Archer Aviation (NYSE:ACHR) Trading 2.8% Higher – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 2.8% during mid-day trading on Tuesday . The company traded as high as $9.52 and last traded at $9.44. 6,011,519 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 28,631,496 shares. The stock had previously closed at $9.18.

Analyst Ratings Changes

ACHR has been the topic of a number of research analyst reports. 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. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Finally, 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 note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Trading Down 0.2 %

The company’s fifty day simple moving average is $9.18 and its two-hundred day simple moving average is $5.64. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -6.92 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company posted ($0.19) earnings per share. Research analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares in the company, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the company. ARK Investment Management LLC raised its holdings in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. HBK Investments L P acquired a new position in shares of Archer Aviation during the 3rd quarter worth approximately $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $3,429,000. Raymond James Financial Inc. acquired a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $7,249,000. Finally, Yarbrough Capital LLC bought a new position in shares of Archer Aviation in the fourth quarter valued at $6,039,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.