Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Purchases $4,999,995.35 in Stock

Archer Aviation Inc. (NYSE:ACHR) major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Archer Aviation Stock Up 17.0 %

ACHR stock traded up $1.22 during midday trading on Friday, hitting $8.39. The stock had a trading volume of 83,522,534 shares, compared to its average volume of 11,736,457. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -5.88 and a beta of 3.19. The business has a 50-day moving average of $4.78 and a two-hundred day moving average of $4.05. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $9.84. 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 released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the firm earned ($0.19) earnings per share. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright began coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.25.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Archer Aviation during the third quarter valued at $80,000. Barclays PLC lifted its holdings in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Archer Aviation during the third quarter valued at $583,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.