Archer Aviation (NYSE:ACHR) Shares Down 0.3%

Shares of Archer Aviation Inc. (NYSE:ACHR) fell 0.3% during mid-day trading on Tuesday . The company traded as low as $3.02 and last traded at $3.03. 1,668,881 shares changed hands during trading, a decline of 76% from the average session volume of 6,941,394 shares. The stock had previously closed at $3.04.

Wall Street Analysts Forecast Growth

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

Archer Aviation Price Performance

The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The company has a market cap of $993.32 million, a price-to-earnings ratio of -1.86 and a beta of 2.32. The company has a fifty day simple moving average of $3.79 and a two-hundred day simple moving average of $3.91.

Archer Aviation (NYSE:ACHR) last issued its earnings results 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, equities research analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 shares were acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the purchase, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 27.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in the company. Hollencrest Capital Management lifted its stake in shares of 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 during the period. CWM LLC increased its position in shares of Archer Aviation by 62.0% during 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 in the last quarter. Tidal Investments LLC acquired a new stake in shares of Archer Aviation in the 1st quarter valued at about $49,000. Csenge Advisory Group acquired a new position in Archer Aviation during the 2nd quarter worth approximately $39,000. Finally, StoneX Group Inc. acquired a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $70,000. Institutional investors own 59.34% of the company’s stock.

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.