Archer Aviation (NYSE:ACHR) Shares Down 0.3%

Archer Aviation Inc. (NYSE:ACHR) fell 0.3% during trading on Monday . The stock traded as low as $3.05 and last traded at $3.06. 2,769,741 shares were traded during trading, a decline of 61% from the average session volume of 7,055,730 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Benchmark reaffirmed 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 reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday. HC Wainwright assumed coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Stock Down 1.3 %

The company has a fifty day moving average of $3.63 and a 200 day moving average of $3.86. 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 $980.38 million, a P/E ratio of -1.88 and a beta of 2.32.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. On average, research analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 27.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management grew its stake in shares of Archer Aviation by 50.0% in the 2nd 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 raised its holdings in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Archer Aviation during the first quarter worth about $49,000. Csenge Advisory Group acquired a new position in Archer Aviation during the second quarter worth about $39,000. Finally, HighPoint Advisor Group LLC acquired a new position in Archer Aviation during the fourth quarter worth about $75,000. 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.