Archer Aviation (NYSE:ACHR) Shares Gap Up – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.35, but opened at $11.00. Archer Aviation shares last traded at $11.11, with a volume of 24,952,814 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on ACHR shares. Canaccord Genuity Group lowered their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Finally, Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Archer Aviation Trading Up 0.8 %

The company has a market capitalization of $4.31 billion, a PE ratio of -7.69 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $9.59 and a two-hundred day moving average of $6.02.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the purchase, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,057,729 shares of company stock valued at $8,473,770 in the last ninety days. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently made changes to their positions in ACHR. ARK Investment Management LLC grew its position in shares of Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth approximately $42,709,000. Alyeska Investment Group L.P. grew its position in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock worth $29,377,000 after buying an additional 2,920,752 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after buying an additional 2,908,859 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.