Archer Aviation (NYSE:ACHR) Sees Strong Trading Volume – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) saw an uptick in trading volume on Thursday . 7,440,267 shares traded hands during trading, a decline of 4% from the previous session’s volume of 7,758,379 shares.The stock last traded at $3.60 and had previously closed at $3.21.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Up 11.2 %

The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $3.16 and its 200 day moving average price is $3.61. The firm has a market cap of $1.27 billion, a P/E ratio of -2.90 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.07. As a group, research analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the third quarter valued at approximately $26,000. Code Waechter LLC acquired a new position in shares of Archer Aviation during the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation in the 3rd quarter worth $31,000. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Finally, CWM LLC boosted its stake in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares in the last quarter. Institutional investors 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.