Archer Aviation Inc. (NYSE:ACHR – Get Free Report)’s stock price was down 2.1% on Thursday . The company traded as low as $7.30 and last traded at $7.32. Approximately 15,186,425 shares were traded during trading, a decline of 53% from the average daily volume of 32,040,793 shares. The stock had previously closed at $7.48.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC increased their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.
Check Out Our Latest Analysis on ACHR
Archer Aviation Stock Performance
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.
Insider Activity
In other news, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the sale, the chief technology officer now owns 1,120,360 shares in the company, valued at $10,083,240. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 545,498 shares of company stock worth $4,920,815 over the last 90 days. 9.75% of the stock is owned by company insiders.
Institutional Investors Weigh In On Archer Aviation
Large investors have recently made changes to their positions in the company. Total Wealth Planning & Management Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth approximately $450,000. Infinitum Asset Management LLC purchased a new stake in Archer Aviation in the 4th quarter worth approximately $10,844,000. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter valued at $27,000. PharVision Advisers LLC purchased a new position in shares of Archer Aviation during the 4th quarter valued at $187,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Archer Aviation by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after acquiring an additional 215,593 shares during the last quarter. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Archer Aviation
- What to Know About Investing in Penny Stocks
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- 10 Best Airline Stocks to Buy
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
- How to Use the MarketBeat Stock Screener
- Why Costco Stock Is Poised to Hit $1,000 Again Soon
Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.