Archer Aviation (NYSE:ACHR) Trading Up 7.1%

Shares of Archer Aviation Inc. (NYSE:ACHR) were up 7.1% during mid-day trading on Monday . The stock traded as high as $3.91 and last traded at $3.91. Approximately 2,239,779 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 5,125,120 shares. The stock had previously closed at $3.65.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research note on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Archer Aviation has a consensus rating of “Buy” and a consensus price target of $9.60.

Archer Aviation Trading Up 2.3 %

The company has a 50 day simple moving average of $4.62 and a two-hundred day simple moving average of $5.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). As a group, analysts predict that Archer Aviation Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 800,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $4.60 per share, for a total transaction of $3,680,000.00. Following the completion of the acquisition, the insider now owns 35,451,720 shares of the company’s stock, valued at $163,077,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 3,150,000 shares of company stock worth $15,724,500 over the last 90 days. Company insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

A number of large investors have recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings in shares of Archer Aviation by 4.7% in the fourth quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after purchasing an additional 1,116,908 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Archer Aviation by 54.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company’s stock valued at $59,478,000 after purchasing an additional 4,154,340 shares during the period. Vanguard Group Inc. lifted its holdings in Archer Aviation by 20.1% during the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after buying an additional 1,394,872 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock worth $8,513,000 after buying an additional 228,487 shares during the period. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in Archer Aviation during the fourth quarter worth $3,825,000. Hedge funds and other 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.