Archer Aviation (NYSE:ACHR) Stock Price Up 1.8% - Here's What Happened

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares traded up 1.8% on Tuesday . The company traded as high as $4.73 and last traded at $4.59. 13,162,155 shares traded hands during mid-day trading, an increase of 60% from the average session volume of 8,227,790 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

A number of research firms have commented on ACHR. JPMorgan Chase & Co. increased their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Finally, Benchmark reissued a "buy" rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $9.00.

Archer Aviation Trading Up 3.4 %

The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.66 billion, a PE ratio of -3.48 and a beta of 2.29. The firm has a fifty day simple moving average of $3.19 and a two-hundred day simple moving average of $3.60.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the firm earned ($0.19) EPS. Equities analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Archer Aviation during the third quarter valued at approximately $206,000. Intellectus Partners LLC raised its holdings in Archer Aviation by 1.3% in the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock worth $2,790,000 after acquiring an additional 11,800 shares during the last quarter. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Finally, Vestor Capital LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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