Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares shot up 3% on Tuesday . The company traded as high as $7.28 and last traded at $6.86. 9,750,622 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 19,899,418 shares. The stock had previously closed at $6.66.
Analyst Ratings Changes
ACHR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.61.
Read Our Latest Stock Report on Archer Aviation
Archer Aviation Price Performance
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 stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -5.33 and a beta of 3.16. The stock's 50 day simple moving average is $8.16 and its 200-day simple moving average is $7.16.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insider Transactions at Archer Aviation
In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Eric Lentell sold 50,004 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the transaction, the general counsel now directly owns 45,416 shares of the company's stock, valued at approximately $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,780 shares of company stock worth $3,158,081 over the last three months. 9.75% of the stock is currently owned by insiders.
Institutional Trading of Archer Aviation
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation during the fourth quarter valued at $27,000. Conquis Financial LLC bought a new position in Archer Aviation during the 4th quarter valued at about $29,000. Harbour Investments Inc. lifted its holdings in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its position in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC grew its stake in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after buying an additional 1,224 shares during the last quarter. Institutional investors own 59.34% of the company's stock.
Archer Aviation Company Profile
(
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.
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