Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) saw strong trading volume on Monday . 15,168,450 shares were traded during trading, an increase of 19% from the previous session’s volume of 12,798,991 shares.The stock last traded at $9.35 and had previously closed at $9.49.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACHR. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. 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 for the company. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Stock Up 15.1 %

The company’s 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $4.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market capitalization of $4.59 billion, a P/E ratio of -8.18 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. As a group, research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P bought a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. increased its position in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after buying an additional 254,460 shares during the period. Finally, Sora Investors LLC bought a new stake in Archer Aviation in the third quarter worth $3,429,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.