Archer Aviation (NYSE:ACHR) Trading Up 1.3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares shot up 1.3% on Thursday . The stock traded as high as $11.22 and last traded at $10.94. 26,324,126 shares were traded during trading, an increase of 101% from the average session volume of 13,091,837 shares. The stock had previously closed at $10.80.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. 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 objective on the stock. Canaccord Genuity Group raised their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Trading Down 1.3 %

The company has a market capitalization of $4.75 billion, a P/E ratio of -8.47 and a beta of 3.19. The business has a fifty day moving average of $6.07 and a 200-day moving average of $4.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data 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 quarter in the previous year, the business posted ($0.19) EPS. Analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total transaction of $1,915,130.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Diaz acquired 5,150 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. The trade was a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors have recently modified their holdings of the business. HBK Investments L P purchased a new position in Archer Aviation in the third quarter worth $6,818,000. Benjamin Edwards Inc. increased its position in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after purchasing an additional 94,430 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of Archer Aviation in the 3rd quarter worth about $578,000. Finally, 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. 59.34% of the stock is owned by institutional investors.

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.