Archer Aviation (NYSE:ACHR) Trading Up 0.5% – Here’s Why

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 0.5% on Tuesday . The stock traded as high as $8.90 and last traded at $8.27. 11,181,834 shares were traded during trading, a decline of 68% from the average session volume of 35,344,574 shares. The stock had previously closed at $8.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ACHR. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday. Canaccord Genuity Group lifted their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -6.88 and a beta of 3.15. The business has a fifty day moving average price of $7.96 and a 200 day moving average price of $5.14.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. The trade was a 43.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Hedge funds have recently made changes to their positions in the company. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Versant Capital Management Inc increased its position in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after acquiring an additional 3,430 shares during the period. Hollencrest Capital Management increased its position in Archer Aviation by 50.0% in 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 period. Code Waechter LLC bought a new position in shares of Archer Aviation during the third quarter valued at $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation during the third quarter worth $31,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.