Archer Aviation (NYSE:ACHR) Trading 4.3% Higher – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 4.3% during trading on Thursday . The company traded as high as $10.30 and last traded at $9.76. 22,799,751 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 29,686,441 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

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

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company’s fifty day simple moving average is $9.35 and its two-hundred day simple moving average is $5.81. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -7.18 and a beta of 3.13.

Insiders Place Their Bets

In other news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis bought 751,879 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the transaction, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACHR. ARK Investment Management LLC increased its position in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the period. Renaissance Technologies LLC bought a new position in Archer Aviation in the 4th quarter worth about $42,709,000. Vanguard Group Inc. boosted its stake in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. HBK Investments L P bought a new position in Archer Aviation in the 3rd quarter worth about $6,818,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Archer Aviation during the 4th quarter valued at about $15,912,000. 59.34% of the stock is owned by hedge funds and other 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.