Archer Aviation (NYSE:ACHR) Trading Down 0.3% - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price was down 0.3% during mid-day trading on Thursday . The company traded as low as $8.97 and last traded at $9.01. Approximately 6,414,148 shares changed hands during trading, a decline of 78% from the average daily volume of 29,418,145 shares. The stock had previously closed at $9.04.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several research analyst reports. Canaccord Genuity Group lifted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.38.

Archer Aviation Trading Up 2.3 %

The stock has a 50 day moving average of $8.95 and a 200 day moving average of $5.50. 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 cap of $3.93 billion, a P/E ratio of -7.00 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted 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 firm earned ($0.19) EPS. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Activity

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis bought 751,879 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 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 Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Investments L P purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at about $6,818,000. Sora Investors LLC purchased a new stake in Archer Aviation during the third quarter valued at $3,429,000. Yarbrough Capital LLC bought a new position in Archer Aviation in the fourth quarter valued at about $6,039,000. Stifel Financial Corp boosted its position in Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Archer Aviation by 272.7% during 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. Hedge funds and other institutional investors own 59.34% of the company's stock.

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.

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