Archer Aviation (NYSE:ACHR) Trading Up 3.3% Following Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 3.3% during mid-day trading on Friday following insider buying activity. The company traded as high as $6.14 and last traded at $5.97. Approximately 18,326,449 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 8,967,542 shares. The stock had previously closed at $5.78.

Specifically, CEO Adam D. Goldstein purchased 19,762 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,316,236.80. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACHR shares. HC Wainwright began coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. Finally, Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday. They issued a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.33.

Archer Aviation Stock Up 4.4 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.57 billion, a P/E ratio of -4.55 and a beta of 2.29. The firm has a 50-day moving average price of $3.42 and a two-hundred day moving average price of $3.65.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACHR. Barclays PLC increased its stake in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares in the last quarter. Geode Capital Management LLC increased its position in Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after purchasing an additional 268,896 shares during the period. Main Management ETF Advisors LLC bought a new position in Archer Aviation during the third quarter worth about $583,000. XTX Topco Ltd bought a new position in Archer Aviation during the third quarter worth about $397,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Archer Aviation by 50.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after purchasing an additional 5,000 shares in the last quarter. 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.