Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price shot up 1.2% during trading on Wednesday . The company traded as high as $9.58 and last traded at $9.41. 14,101,431 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 29,196,479 shares. The stock had previously closed at $9.29.
Analyst Upgrades and Downgrades
ACHR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. HC Wainwright reiterated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.25.
View Our Latest Research Report on Archer Aviation
Archer Aviation Stock Performance
The firm has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $5.88. 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 has a market cap of $4.39 billion, a price-to-earnings ratio of -7.82 and a beta of 3.13.
Insider Activity
In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company's stock, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah Diaz purchased 5,150 shares of the firm's stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now directly owns 98,886 shares in the company, valued at $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company's stock.
Institutional Trading of Archer Aviation
Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after purchasing an additional 312,440 shares during the last quarter. HBK Investments L P acquired a new position in Archer Aviation during the 3rd quarter worth approximately $6,818,000. Yarbrough Capital LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $6,039,000. Benjamin Edwards Inc. boosted its stake in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock worth $322,000 after acquiring an additional 105,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Archer Aviation by 5.4% in 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 buying an additional 94,430 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
Archer Aviation Company Profile
(
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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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