Archer Aviation (NYSE:ACHR) Trading 0.3% Higher – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) was up 0.3% during mid-day trading on Monday . The company traded as high as $11.80 and last traded at $11.55. Approximately 18,011,059 shares were traded during trading, a decline of 50% from the average daily volume of 36,010,445 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACHR. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.63.

Archer Aviation Stock Performance

The stock’s 50 day moving average is $6.93 and its two-hundred day moving average is $4.81. The firm has a market capitalization of $4.87 billion, a P/E ratio of -8.67 and a beta of 3.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company earned ($0.19) earnings per share. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief technology officer now owns 1,120,360 shares in the company, valued at approximately $10,083,240. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Spellacy sold 191,513 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The disclosure for this sale can be found here. In the last 90 days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. HBK Investments L P bought a new stake in Archer Aviation in the third quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. lifted its position in shares of Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares during the period. Finally, Sora Investors LLC acquired a new position in shares of Archer Aviation in the third quarter valued at $3,429,000. 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.