Archer Aviation (NYSE:ACHR) Stock Price Up 8.5% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 8.5% during trading on Monday . The stock traded as high as $10.40 and last traded at $10.33. 50,143,838 shares were traded during trading, an increase of 115% from the average session volume of 23,369,936 shares. The stock had previously closed at $9.52.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. Canaccord Genuity Group lowered their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Archer Aviation Stock Performance

The stock has a market capitalization of $4.39 billion, a PE ratio of -7.82 and a beta of 3.13. The stock has a fifty day moving average of $9.43 and a 200-day moving average of $5.90. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now directly owns 197,355 shares in the company, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the purchase, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHR. ARK Investment Management LLC raised its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation during the fourth quarter worth about $42,709,000. Alyeska Investment Group L.P. increased its position in shares of Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after purchasing an additional 3,064,280 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Archer Aviation by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Archer Aviation during the third quarter worth about $6,818,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.