Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price was up 0.5% during mid-day trading on Tuesday . The stock traded as high as $8.90 and last traded at $8.27. Approximately 11,181,834 shares traded hands during trading, a decline of 68% from the average daily volume of 35,344,574 shares. The stock had previously closed at $8.23.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on ACHR. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $6.00 to $9.00 in a report on Friday. Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $11.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $11.38.
Check Out Our Latest Research Report on ACHR
Archer Aviation Stock Performance
The company has a market capitalization of $3.50 billion, a PE ratio of -6.23 and a beta of 3.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company's fifty day moving average is $7.75 and its 200-day moving average is $5.08.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) earnings per share. On average, analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.
Insider Activity
In related news, major shareholder N.V. Stellantis purchased 751,879 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares of the company's stock, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company's stock.
Hedge Funds Weigh In On Archer Aviation
A number of hedge funds have recently made changes to their positions in ACHR. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $26,000. Code Waechter LLC acquired a new stake in Archer Aviation during the third quarter worth $30,000. Azzad Asset Management Inc. ADV purchased a new stake in Archer Aviation in the third quarter valued at $31,000. Hollencrest Capital Management lifted its stake in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in shares of Archer Aviation during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 59.34% of the company's stock.
About Archer Aviation
(
Get Free Report)
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.
Further Reading
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
