Archer Aviation (NYSE:ACHR) Trading 3.2% Higher

Archer Aviation Inc. (NYSE:ACHRGet Free Report) shot up 3.2% on Monday . The stock traded as high as $3.22 and last traded at $3.20. 2,122,956 shares changed hands during trading, a decline of 68% from the average session volume of 6,717,590 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

Several research firms have weighed in on ACHR. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Barclays lowered their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. HC Wainwright began coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

View Our Latest Report on ACHR

Archer Aviation Stock Performance

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -2.06 and a beta of 2.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The firm’s 50 day moving average is $4.05 and its 200-day moving average is $4.02.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.07. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.17% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Hollencrest Capital Management lifted its position in shares of Archer Aviation by 50.0% during the second 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. Hsbc Holdings PLC lifted its position in shares of Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after purchasing an additional 3,341 shares in the last quarter. CWM LLC lifted its position in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Archer Aviation by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after buying an additional 5,611 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Archer Aviation by 13.7% in the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock valued at $210,000 after buying an additional 7,184 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

(Get Free Report)

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.

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