Archer Aviation (NYSE:ACHR) Shares Up 12.8% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 12.8% during mid-day trading on Friday . The company traded as high as $7.37 and last traded at $7.32. 50,394,726 shares changed hands during trading, an increase of 14% from the average session volume of 44,173,340 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

Several equities research analysts recently commented on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. 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 note on Friday, November 7th. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Stock Performance

The firm has a fifty day moving average price of $8.13 and a 200 day moving average price of $9.19. 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 firm has a market cap of $4.77 billion, a PE ratio of -5.81 and a beta of 3.11.

Archer Aviation (NYSE:ACHR) last released 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). As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the sale, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Priya Gupta sold 5,479 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 in the last 90 days. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACHR. Strs Ohio acquired a new stake in shares of Archer Aviation during the first quarter valued at about $27,000. AlphaQuest LLC lifted its holdings in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation during the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust increased its holdings in Archer Aviation by 45.9% in the 3rd 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, Sound Income Strategies LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at approximately $33,000. 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.