Archer Aviation (NYSE:ACHR) Trading 5.7% Higher - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price shot up 5.7% on Friday . The stock traded as high as $10.48 and last traded at $10.45. 14,588,464 shares traded hands during trading, a decline of 54% from the average session volume of 31,694,111 shares. The stock had previously closed at $9.89.

Analysts Set New Price Targets

Several brokerages have weighed in on ACHR. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. 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. HC Wainwright reaffirmed a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Canaccord Genuity Group lifted their target price on Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.38.

Archer Aviation Stock Performance

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $8.70 and a 200 day moving average price of $5.40.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. On average, research analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % 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, CEO Adam D. Goldstein purchased 19,762 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares of the company's stock, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. Townsquare Capital LLC grew its stake in Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after purchasing an additional 3,033 shares in the last quarter. PFG Investments LLC grew its stake in Archer Aviation by 16.3% in the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company's stock valued at $223,000 after purchasing an additional 3,192 shares in the last quarter. Tidal Investments LLC grew its stake in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after purchasing an additional 3,339 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company's stock valued at $89,000 after purchasing an additional 3,341 shares in 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.