Archer Aviation (NYSE:ACHR) Trading 4.6% Higher - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price shot up 4.6% during mid-day trading on Friday . The stock traded as high as $10.14 and last traded at $9.96. 18,560,595 shares were traded during mid-day trading, a decline of 38% from the average session volume of 30,179,092 shares. The stock had previously closed at $9.52.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Cantor Fitzgerald upped 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. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.25.

Archer Aviation Stock 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 firm has a market capitalization of $4.27 billion, a PE ratio of -7.60 and a beta of 3.13. The firm has a fifty day moving average price of $9.59 and a 200 day moving average price of $6.02.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. 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 1,057,729 shares valued at $8,473,770. Insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. HBK Investments L P purchased a new stake in Archer Aviation in the 3rd quarter worth approximately $6,818,000. Yarbrough Capital LLC purchased a new stake in Archer Aviation in 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 valued at $322,000 after buying an additional 105,425 shares during the period. Finally, Apollon Wealth Management LLC purchased a new position in shares of Archer Aviation during the 4th quarter valued at $296,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

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.