Archer Aviation (NYSE:ACHR) Trading Up 0.1% – Here’s Why

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 0.1% during mid-day trading on Tuesday . The stock traded as high as $7.48 and last traded at $7.26. Approximately 5,333,608 shares changed hands during trading, a decline of 74% from the average daily volume of 20,273,209 shares. The stock had previously closed at $7.25.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Down 2.6 %

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $8.12 and a 200 day simple moving average of $7.21. The firm has a market capitalization of $3.83 billion, a PE ratio of -5.35 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark Mesler sold 34,498 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares in the company, valued at approximately $4,641,873.28. The trade was a 4.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,780 shares of company stock valued at $3,158,081 over the last three months. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACHR. Sunbelt Securities Inc. bought a new position in Archer Aviation during the fourth quarter valued at $27,000. Conquis Financial LLC purchased a new stake in shares of Archer Aviation in the fourth quarter worth approximately $29,000. Oarsman Capital Inc. lifted its stake in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC grew its position in Archer Aviation by 58.3% in 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 during 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.