Archer Aviation (NYSE:ACHR) Trading 3% Higher – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares were up 3% during trading on Monday . The company traded as high as $5.51 and last traded at $5.42. Approximately 22,109,485 shares were traded during mid-day trading, a decline of 40% from the average session volume of 36,797,148 shares. The stock had previously closed at $5.26.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACHR shares. Wells Fargo & Company set a $18.00 price target on Archer Aviation in a research note on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Hold” and an average target price of $11.50.

Archer Aviation Trading Up 3.0%

The stock has a market cap of $4.17 billion, a PE ratio of -5.02 and a beta of 3.23. The firm has a 50-day moving average price of $5.53 and a 200-day moving average price of $5.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $1.94 million. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider directly owned 85,011 shares of the company’s stock, valued at approximately $536,419.41. This represents a 54.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the sale, the chief accounting officer owned 110,847 shares in the company, valued at approximately $710,529.27. This represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 176,657 shares of company stock worth $1,122,371 over the last 90 days. 5.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Archer Aviation by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after buying an additional 1,867,648 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in shares of Archer Aviation by 21.7% during the 4th quarter. Amova Asset Management Americas Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after acquiring an additional 1,413,774 shares during the last quarter. Norges Bank purchased a new stake in shares of Archer Aviation during the 4th quarter valued at about $58,494,000. BNP Paribas Financial Markets grew its stake in shares of Archer Aviation by 423.3% in the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after acquiring an additional 4,146,574 shares during the period. Finally, Alpine Global Management LLC raised its holdings in shares of Archer Aviation by 104.7% during the fourth quarter. Alpine Global Management LLC now owns 4,677,145 shares of the company’s stock valued at $35,172,000 after purchasing an additional 2,392,026 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to transport passengers over short distances using distributed electric propulsion, with the goal of providing quieter and potentially faster alternatives to traditional ground transportation in congested urban areas.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft intended for commercial air taxi operations.