Archer Aviation (NYSE:ACHR) Sees Strong Trading Volume Following Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) saw unusually-strong trading volume on Wednesday after an insider bought additional shares in the company. Approximately 6,483,046 shares were traded during trading, a decline of 32% from the previous session’s volume of 9,511,340 shares.The stock last traded at $7.87 and had previously closed at $7.22.

Specifically, Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam D. Goldstein bought 19,762 shares of Archer Aviation stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Archer Aviation Stock Performance

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 stock has a market cap of $3.44 billion, a PE ratio of -6.13 and a beta of 2.29. The company’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.71.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

A number of hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management raised its stake in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares in the last quarter. Townsquare Capital LLC raised its position in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the period. Tidal Investments LLC lifted its stake in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares during the last quarter. Hsbc Holdings PLC boosted its position in Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares during the period. Finally, CWM LLC grew its stake in shares of Archer Aviation by 62.0% during 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. Institutional investors 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.