Archer Aviation (NYSE:ACHR) Sees Large Volume Increase After Insider Buying Activity

Shares of Archer Aviation Inc. (NYSE:ACHR) saw an uptick in trading volume on Monday following insider buying activity. 15,438,083 shares traded hands during mid-day trading, an increase of 31% from the previous session’s volume of 11,750,792 shares.The stock last traded at $8.69 and had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis purchased 751,879 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

Several research firms have weighed in on ACHR. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group upped their price target on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Archer Aviation Stock Up 5.5 %

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.77 billion, a P/E ratio of -6.71 and a beta of 3.19. The business has a 50-day moving average price of $5.00 and a 200 day moving average price of $4.14.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, equities analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management raised its holdings in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Townsquare Capital LLC raised its holdings in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares during the period. Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the period. Hsbc Holdings PLC increased 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 worth $89,000 after purchasing an additional 3,341 shares during the period. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. Hedge funds and other 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.