Archer Aviation (NYSE:ACHR) Trading Up 4.1% Following Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 4.1% on Monday after an insider bought additional shares in the company. The stock traded as high as $8.84 and last traded at $8.73. Approximately 26,713,108 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 11,803,282 shares. The stock had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis bought 751,879 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

ACHR has been the topic of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC started coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $10.25.

Archer Aviation Price Performance

The firm has a 50-day moving average of $5.00 and a 200-day moving average of $4.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $3.86 billion, a P/E ratio of -6.87 and a beta of 3.19.

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 quarter in the previous year, the company earned ($0.19) earnings per share. As a group, analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current year.

Institutional Trading of Archer Aviation

A number of large investors have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its position in Archer Aviation by 50.0% during the second 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 period. Townsquare Capital LLC raised its stake in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the period. 59.34% of the stock is currently owned by 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.