Archer Aviation (NYSE:ACHR) Trading Up 0.8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded up 0.8% on Thursday . The company traded as high as $7.60 and last traded at $7.11. 10,172,543 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 20,372,058 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

ACHR has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Price Performance

The company has a market cap of $3.92 billion, a PE ratio of -5.47 and a beta of 3.16. The business has a 50 day moving average of $7.98 and a 200 day moving average of $7.24. 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, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In related news, insider Tosha Perkins sold 33,335 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares in the company, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 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 transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock worth $3,158,081 over the last three months. 9.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter worth $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the 4th quarter worth $29,000. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Oarsman Capital Inc. raised its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is 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.