Archer Aviation (NYSE:ACHR) Shares Up 19.6% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 19.6% on Friday . The company traded as high as $11.48 and last traded at $11.45. 26,582,879 shares traded hands during trading, a decline of 8% from the average session volume of 28,770,297 shares. The stock had previously closed at $9.57.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ACHR shares. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. Canaccord Genuity Group increased their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Stock Up 20.3 %

The stock has a market cap of $4.89 billion, a P/E ratio of -8.72 and a beta of 3.19. The stock’s fifty day simple moving average is $6.93 and its 200-day simple moving average is $4.79. 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 quarterly earnings data 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 last year, the business posted ($0.19) earnings per share. On average, research analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total transaction of $1,915,130.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam D. Goldstein bought 19,762 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the transaction, the chief executive officer now owns 2,014,890 shares in the company, valued at $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. Insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after acquiring an additional 3,033 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the period. Hsbc Holdings PLC raised its holdings in Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after purchasing an additional 3,341 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Archer Aviation by 74.3% in the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after purchasing an additional 3,430 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.