Archer Aviation (NYSE:ACHR) Stock Price Up 2.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 2.9% during trading on Monday . The company traded as high as $8.65 and last traded at $8.3950. 34,719,576 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 39,516,020 shares. The stock had previously closed at $8.16.

Analyst Ratings Changes

ACHR has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. The Goldman Sachs Group began coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Finally, Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Trading Up 2.9%

The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $9.20 and a 200-day moving average price of $9.83. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -6.66 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the sale, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Lentell sold 41,490 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 182,635 shares of company stock valued at $1,367,936. 7.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after purchasing an additional 16,452,398 shares during the last quarter. Man Group plc boosted its stake in shares of Archer Aviation by 13,793.3% during the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after buying an additional 4,182,400 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Archer Aviation by 44.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock worth $130,125,000 after buying an additional 3,671,753 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Archer Aviation by 435.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company’s stock valued at $40,688,000 after acquiring an additional 3,050,000 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Archer Aviation by 466.5% in the second quarter. Invesco Ltd. now owns 3,650,429 shares of the company’s stock valued at $39,607,000 after acquiring an additional 3,006,039 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.