Archer Aviation Inc. (NYSE:ACHR) Director Buys $38,522.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz acquired 5,150 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Archer Aviation Trading Up 11.9 %

ACHR stock opened at $8.08 on Friday. The firm has a fifty day moving average price of $3.75 and a 200 day moving average price of $3.74. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $8.54. 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 has a market cap of $3.44 billion, a PE ratio of -6.12 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data 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 in the prior year, the firm earned ($0.19) EPS. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HBK Investments L P bought a new stake in shares of Archer Aviation during the third quarter worth $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation during the third quarter worth $3,429,000. Intellectus Partners LLC lifted its position in shares of Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after purchasing an additional 523,024 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACHR. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. HC Wainwright assumed coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Finally, Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

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.