Archer Aviation (NYSE:ACHR) Trading Down 0.3%

Archer Aviation Inc. (NYSE:ACHR) shares fell 0.3% during mid-day trading on Monday . The stock traded as low as $3.04 and last traded at $3.05. 1,636,288 shares were traded during mid-day trading, a decline of 76% from the average session volume of 6,933,661 shares. The stock had previously closed at $3.06.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Trading Down 1.3 %

The firm has a market capitalization of $977.15 million, a PE ratio of -1.85 and a beta of 2.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The company’s 50-day moving average price is $3.83 and its 200-day moving average price is $3.92.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in ACHR. Hollencrest Capital Management lifted its stake in Archer Aviation by 50.0% in the second 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 in the last quarter. CWM LLC raised its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Archer Aviation in the 2nd quarter valued at $39,000. Tidal Investments LLC acquired a new position in Archer Aviation in the 1st quarter worth about $49,000. Finally, Choreo LLC bought a new stake in Archer Aviation in the second quarter valued at approximately $49,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.