Archer Aviation (NYSE:ACHR) Stock Price Up 4.1% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 4.1% on Monday . The company traded as high as $9.18 and last traded at $9.08. 10,015,335 shares changed hands during trading, a decline of 47% from the average session volume of 19,033,899 shares. The stock had previously closed at $8.72.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACHR shares. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Raymond James upped their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Trading Up 3.2 %

The company has a market cap of $4.88 billion, a PE ratio of -6.82 and a beta of 3.14. The company’s 50 day simple moving average is $8.80 and its two-hundred day simple moving average is $6.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, the chief financial officer now owns 630,243 shares of the company’s stock, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,985 shares of company stock valued at $2,555,685. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC increased its stake in shares of Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after buying an additional 1,000 shares during the period. Harbour Investments Inc. increased its position in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of 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 purchasing an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors and hedge funds 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.