Archer Aviation (NYSE:ACHR) Stock Price Down 0.3%

Archer Aviation Inc. (NYSE:ACHR) fell 0.3% during trading on Monday . The company traded as low as $3.04 and last traded at $3.05. 1,636,288 shares changed hands during trading, a decline of 76% from the average session volume of 6,933,661 shares. The stock had previously closed at $3.06.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ACHR shares. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday. HC Wainwright began coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Stock Down 1.3 %

The business’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $3.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The company has a market capitalization of $977.15 million, a PE ratio of -1.85 and a beta of 2.32.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. As a group, analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of Archer Aviation stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 27.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management boosted its stake 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 acquiring an additional 3,000 shares during the last quarter. CWM LLC lifted its position in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Archer Aviation in the second quarter worth $39,000. Tidal Investments LLC purchased a new position in shares of Archer Aviation during the 1st quarter valued at $49,000. Finally, Choreo LLC bought a new position in Archer Aviation during the second quarter valued at approximately $49,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.