Archer Aviation (NYSE:ACHR) Stock Price Up 4.1% on Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 4.1% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $8.84 and last traded at $8.73. Approximately 26,713,108 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 11,803,282 shares. The stock had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis bought 751,879 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

ACHR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

Archer Aviation Stock Up 5.5 %

The business’s 50 day moving average is $5.00 and its 200 day moving average is $4.14. The stock has a market cap of $3.77 billion, a price-to-earnings 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.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) EPS. Equities analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of ACHR. HBK Investments L P acquired a new stake in shares of Archer Aviation during the 3rd quarter valued at $6,818,000. Sora Investors LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter valued at $3,429,000. Stifel Financial Corp boosted its stake in shares of Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after buying an additional 391,092 shares during the period. Barclays PLC boosted its stake in shares of Archer Aviation by 272.7% during the 3rd 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 during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares in the last quarter. Institutional investors and hedge funds 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.