Archer Aviation (NYSE:ACHR) Sees Strong Trading Volume After Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) saw strong trading volume on Wednesday after an insider bought additional shares in the company. 6,483,046 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 9,511,340 shares.The stock last traded at $7.87 and had previously closed at $7.22.

Specifically, Director Deborah Diaz acquired 5,150 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the acquisition, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam D. Goldstein purchased 19,762 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright began coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Archer Aviation Stock Up 11.9 %

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 has a market cap of $3.44 billion, a PE ratio of -6.12 and a beta of 2.29. The company has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $3.74.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the firm earned ($0.19) earnings per share. Analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. HBK Investments L P purchased a new position in Archer Aviation in the third quarter worth about $6,818,000. Sora Investors LLC purchased a new position in shares of Archer Aviation in the third quarter worth approximately $3,429,000. Intellectus Partners LLC grew its position in Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after buying an additional 523,024 shares during the period. Stifel Financial Corp grew its position in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after buying an additional 391,092 shares during the period. Finally, Barclays PLC increased its holdings in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.