Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares dropped 0% during mid-day trading on Wednesday . The stock traded as low as $10.97 and last traded at $11.16. Approximately 16,222,771 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 28,255,209 shares. The stock had previously closed at $11.16.
Wall Street Analysts Forecast Growth
Several research firms have commented on ACHR. Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.
View Our Latest Analysis on ACHR
Archer Aviation Stock Up 9.5%
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 business's fifty day moving average price is $8.03 and its two-hundred day moving average price is $8.04. The stock has a market capitalization of $7.24 billion, a PE ratio of -10.22 and a beta of 3.13.
Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares of the company's stock, valued at $8,712,111.10. The trade was a 8.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 474,780 shares of company stock worth $3,581,581. 7.65% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in ACHR. Charles Schwab Investment Management Inc. raised its position in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after acquiring an additional 446,864 shares during the period. Private Advisor Group LLC raised its position in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after purchasing an additional 36,840 shares during the last quarter. ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in Archer Aviation in the 4th quarter worth about $6,039,000. Finally, Apollon Wealth Management LLC acquired a new stake in Archer Aviation in the 4th quarter worth about $296,000. Hedge funds and other institutional investors own 59.34% of the company's stock.
Archer Aviation Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
