Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price traded down 0.4% during mid-day trading on Thursday . The stock traded as low as $7.83 and last traded at $8.10. 6,337,703 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 30,475,656 shares. The stock had previously closed at $8.13.
Analysts Set New Price Targets
ACHR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.
View Our Latest Stock Report on ACHR
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 stock's 50-day moving average price is $8.75 and its 200-day moving average price is $6.87. The company has a market cap of $3.94 billion, a P/E ratio of -5.50 and a beta of 3.14.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.
Insider Activity at Archer Aviation
In related news, General Counsel Eric Lentell sold 43,230 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now owns 53,225 shares of the company's stock, valued at $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mesler sold 62,258 shares of the company'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 transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares of the company's stock, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,985 shares of company stock worth $2,555,685. Company insiders own 9.75% of the company's stock.
Institutional Trading of Archer Aviation
Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in shares of Archer Aviation in the fourth quarter worth about $15,912,000. California State Teachers Retirement System lifted its stake in Archer Aviation by 26.2% in the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after purchasing an additional 50,104 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in Archer Aviation in the fourth quarter valued at approximately $450,000. Infinitum Asset Management LLC bought a new stake in shares of Archer Aviation during the fourth quarter worth $10,844,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during the fourth quarter worth $27,000. 59.34% of the stock is currently owned by institutional investors.
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.
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