Archer Aviation (NYSE:ACHR) Shares Up 1.2% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 1.2% during trading on Wednesday . The stock traded as high as $9.58 and last traded at $9.41. 14,101,431 shares traded hands during trading, a decline of 52% from the average session volume of 29,196,479 shares. The stock had previously closed at $9.29.

Analysts Set New Price Targets

ACHR has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.25.

Archer Aviation Stock Down 0.1 %

The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -7.07 and a beta of 3.13. The firm has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $5.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein acquired 19,762 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the stock. IPG Investment Advisors LLC acquired a new position in Archer Aviation during the 4th quarter worth approximately $141,000. Pictet Asset Management Holding SA boosted its holdings in Archer Aviation by 117.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 42,475 shares of the company’s stock worth $414,000 after purchasing an additional 22,939 shares during the last quarter. Blair William & Co. IL grew its position in Archer Aviation by 407.2% in the fourth quarter. Blair William & Co. IL now owns 456,307 shares of the company’s stock valued at $4,449,000 after purchasing an additional 366,333 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Archer Aviation by 218.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 177,508 shares of the company’s stock valued at $1,731,000 after buying an additional 121,776 shares during the last quarter. Finally, Aire Advisors LLC lifted its position in Archer Aviation by 16.0% during the 4th quarter. Aire Advisors LLC now owns 14,500 shares of the company’s stock worth $141,000 after buying an additional 2,000 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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.