Archer Aviation (NYSE:ACHR) Shares Up 5.8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price shot up 5.8% during trading on Monday . The company traded as high as $8.42 and last traded at $8.36. 12,567,234 shares traded hands during trading, a decline of 60% from the average session volume of 31,727,953 shares. The stock had previously closed at $7.90.

Analyst Ratings Changes

Several brokerages have commented on ACHR. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC raised their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Stock Down 2.6 %

The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -6.13 and a beta of 3.14. The business’s 50 day moving average price is $8.89 and its 200 day moving average price is $6.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Eric Lentell sold 43,230 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now owns 53,225 shares of the company’s stock, valued at $409,832.50. This trade represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth approximately $29,000. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. raised its stake in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC raised its stake in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.