Archer Aviation Inc. (NYSE:ACHR - Get Free Report) rose 3.5% during trading on Friday . The company traded as high as $8.45 and last traded at $8.57. Approximately 6,207,984 shares were traded during trading, a decline of 67% from the average daily volume of 18,801,783 shares. The stock had previously closed at $8.28.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ACHR shares. Raymond James upped their price target 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. Canaccord Genuity Group boosted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Cantor Fitzgerald increased their price target 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. Finally, Needham & Company LLC lifted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.61.
Check Out Our Latest Research Report on ACHR
Archer Aviation Stock Down 7.5 %
The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -6.16 and a beta of 3.14. The business's 50 day moving average is $8.82 and its 200 day moving average is $6.80.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.
Insider Transactions at Archer Aviation
In related news, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mesler sold 62,258 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 transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,985 shares of company stock worth $2,555,685 over the last 90 days. 9.75% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Archer Aviation
Several institutional investors and hedge funds have recently modified their holdings of ACHR. Barclays PLC grew its holdings in Archer Aviation by 272.7% in the third 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 period. Private Advisor Group LLC lifted its position in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock valued at $501,000 after buying an additional 36,840 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock valued at $22,206,000 after acquiring an additional 446,864 shares during the period. HBK Investments L P purchased a new stake in Archer Aviation in the 3rd quarter worth $6,818,000. Finally, ARK Investment Management LLC increased its holdings in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.
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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