Archer Aviation (NYSE:ACHR) Sees Unusually-High Trading Volume – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) saw unusually-high trading volume on Monday . Approximately 15,168,450 shares changed hands during trading, an increase of 19% from the previous session’s volume of 12,798,991 shares.The stock last traded at $9.35 and had previously closed at $9.49.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Finally, Cantor Fitzgerald upped their price target 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Stock Down 2.8 %

The company’s fifty day simple moving average is $5.48 and its 200 day simple moving average is $4.30. The firm has a market capitalization of $3.92 billion, a P/E ratio of -6.98 and a beta of 3.19. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) earnings per share. Research analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam D. Goldstein bought 19,762 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $5.12 per share, with a total value of $101,181.44. Following the transaction, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the stock. Miller Wealth Advisors LLC purchased a new position in shares of Archer Aviation in the 3rd quarter worth $26,000. Code Waechter LLC bought a new position in shares of Archer Aviation in the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the third quarter worth about $31,000. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in Archer Aviation during the third quarter worth approximately $36,000. 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.