Archer Aviation (NYSE:ACHR) Stock Price Up 0.1% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares rose 0.1% on Tuesday . The stock traded as high as $7.48 and last traded at $7.26. Approximately 5,333,608 shares traded 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.

Analysts Set New Price Targets

ACHR has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Needham & Company LLC lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Stock Performance

The company has a 50-day moving average of $8.04 and a 200 day moving average of $7.21. The firm has a market capitalization of $3.82 billion, a PE ratio of -5.34 and a beta of 3.16. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value 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 represents a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the sale, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. This represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 in the last ninety days. 9.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently made changes to their positions in ACHR. Barclays PLC raised its position in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after purchasing an additional 446,864 shares during the period. Private Advisor Group LLC grew its position in Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after purchasing an additional 36,840 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Archer Aviation by 27.1% during the 4th 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 during the period. Finally, Yarbrough Capital LLC purchased a new position in shares of Archer Aviation in the 4th quarter worth $6,039,000. Institutional investors own 59.34% of the company’s stock.

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.