Archer Aviation (NYSE:ACHR) Trading Up 4.1% on Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) rose 4.1% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $8.84 and last traded at $8.73. Approximately 26,713,108 shares changed hands during mid-day trading, an increase of 126% from the average daily volume of 11,803,282 shares. The stock had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis purchased 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ACHR shares. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on 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 started coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Archer Aviation Stock Up 2.3 %

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 company has a market capitalization of $3.86 billion, a PE ratio of -6.87 and a beta of 3.19. The company’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.14.

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

Hedge Funds Weigh In On Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management boosted its position in shares of 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. Townsquare Capital LLC raised its stake in Archer Aviation by 25.6% during 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. Tidal Investments LLC lifted its position in Archer Aviation by 29.9% during 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 during the last quarter. Hsbc Holdings PLC grew its stake in shares of Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the last quarter. 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.