Archer Aviation (NYSE:ACHR) Sees Large Volume Increase After Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) shares saw unusually-strong trading volume on Monday following insider buying activity. Approximately 15,438,083 shares traded hands during mid-day trading, an increase of 31% from the previous session’s volume of 11,750,792 shares.The stock last traded at $8.69 and had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis bought 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ACHR shares. Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday. Needham & Company LLC started 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. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Archer Aviation Stock Up 5.5 %

The stock has a market cap of $3.77 billion, a PE ratio of -6.71 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company’s 50-day moving average price is $5.00 and its 200 day moving average price is $4.14.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 quarter in the previous year, the firm earned ($0.19) EPS. As a group, analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Cetera Advisors LLC purchased a new stake in Archer Aviation in the 1st quarter worth approximately $80,000. CWM LLC increased its holdings in Archer Aviation by 62.0% in the 2nd 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. Raymond James & Associates increased its holdings in Archer Aviation by 44.4% in the 2nd quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after acquiring an additional 192,120 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Archer Aviation by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 46,058 shares of the company’s stock worth $162,000 after acquiring an additional 13,377 shares in the last quarter. Finally, Fullcircle Wealth LLC purchased a new stake in Archer Aviation in the 2nd quarter worth approximately $70,000. 59.34% of the stock is owned by hedge funds and other 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.