Archer Aviation (NYSE:ACHR) Trading 1.8% Higher – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR)’s share price rose 1.8% on Friday . The company traded as high as $9.40 and last traded at $9.26. Approximately 8,338,325 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 32,722,143 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

ACHR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted 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. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Canaccord Genuity Group lifted their price objective 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. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Stock Down 3.2 %

The firm has a market cap of $3.74 billion, a P/E ratio of -6.66 and a beta of 3.15. 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 firm’s fifty day moving average is $8.17 and its 200 day moving average is $5.22.

Archer Aviation (NYSE:ACHR) last announced 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 last year, the company earned ($0.19) EPS. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah Diaz acquired 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $7.48 per share, with a total value of $38,522.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management raised its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares in the last quarter. Tidal Investments LLC raised its position in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of 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 buying an additional 3,430 shares in 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.