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

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACHR. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Needham & Company LLC reduced their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, November 7th. JPMorgan Chase & Co. lowered their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell 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 $12.14.

Archer Aviation Trading Up 2.9%

The business has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $9.83. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.47 billion, a P/E ratio of -6.66 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of the business’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 transaction of $310,760.10. Following the sale, the insider directly owned 83,733 shares of the company’s stock, valued at $627,160.17. The trade was a 33.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, 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 SEC filing for this sale provides additional information. Insiders have sold 182,635 shares of company stock worth $1,367,936 in the last 90 days. Corporate insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Archer Aviation during the 1st quarter worth approximately $27,000. AlphaQuest LLC grew its position in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust lifted its stake in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after buying an additional 2,024 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.