Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz Purchases 5,150 Shares

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Archer Aviation Stock Down 3.4 %

Shares of NYSE ACHR opened at $7.23 on Wednesday. The company has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $3.69. The company has a market capitalization of $3.07 billion, a P/E ratio of -5.47 and a beta of 2.29. 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 Inc. has a 1 year low of $2.82 and a 1 year high of $7.90.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the business posted ($0.19) EPS. On average, equities research analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Institutional Trading of Archer Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management increased its holdings in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, CWM LLC increased its holdings in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ACHR. HC Wainwright began coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Finally, Needham & Company LLC began coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.33.

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.