Archer Aviation (NYSE:ACHR) Trading Up 7.1%

Archer Aviation Inc. (NYSE:ACHR) traded up 7.1% during mid-day trading on Monday . The company traded as high as $3.91 and last traded at $3.91. 2,239,779 shares changed hands during trading, a decline of 56% from the average session volume of 5,125,120 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Buy” and a consensus price target of $9.60.

Archer Aviation Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21. The stock’s 50 day simple moving average is $4.62 and its two-hundred day simple moving average is $5.24.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, February 26th. The company reported ($0.35) EPS for the quarter, meeting analysts’ consensus estimates of ($0.35). On average, equities analysts predict that Archer Aviation Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis bought 800,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $4.60 per share, with a total value of $3,680,000.00. Following the purchase, the insider now owns 35,451,720 shares in the company, valued at approximately $163,077,912. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have acquired 3,150,000 shares of company stock valued at $15,724,500. Company insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in the business. Grove Bank & Trust purchased a new stake in Archer Aviation during the 3rd quarter worth $27,000. Exchange Traded Concepts LLC purchased a new stake in Archer Aviation during the 3rd quarter worth $37,000. Vestor Capital LLC purchased a new stake in Archer Aviation during the 4th quarter worth $61,000. Teacher Retirement System of Texas purchased a new stake in Archer Aviation during the 3rd quarter worth $51,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Archer Aviation during the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.