Archer Aviation Inc. (NYSE:ACHR – Get Free Report) was up 0.3% during mid-day trading on Wednesday . The stock traded as high as $3.07 and last traded at $3.04. Approximately 2,377,844 shares traded hands during trading, a decline of 67% from the average daily volume of 7,287,330 shares. The stock had previously closed at $3.03.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on ACHR shares. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.
View Our Latest Report on ACHR
Archer Aviation Stock Performance
Archer Aviation (NYSE:ACHR – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.07. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.
Insider Buying and Selling at Archer Aviation
In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of Archer Aviation stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 27.17% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Green Alpha Advisors LLC grew its stake in Archer Aviation by 29.2% in the 3rd quarter. Green Alpha Advisors LLC now owns 94,538 shares of the company’s stock valued at $286,000 after purchasing an additional 21,348 shares during the period. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation during the third quarter valued at $31,000. Algert Global LLC bought a new stake in shares of Archer Aviation in the second quarter valued at $76,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Archer Aviation in the second quarter valued at $62,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Archer Aviation by 42.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company’s stock worth $425,000 after acquiring an additional 36,130 shares during the period. 59.34% of the stock is owned by institutional investors.
About Archer Aviation
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.
Featured Articles
- Five stocks we like better than Archer Aviation
- 3 Grocery Stocks That Are Proving They Are Still Essential
- 3 Momentum Trades for October With Ample Upside Ahead
- Investing in Travel Stocks Benefits
- Roblox Dips on Short Report—Here’s Why It Could Bounce Back Fast
- Earnings Per Share Calculator: How to Calculate EPS
- 2 Reasons to Jump on Apple Stock Now and 1 Reason to Think Twice
Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.