Archer Aviation (NYSE:ACHR) Stock Price Up 1.4% - What's Next?

Key Points

• Archer Aviation's stock price increased by 1.4% to $9.28, with a significantly lower trading volume of approximately 5.2 million shares, a drop of 84% from its average volume.
• Analysts have a generally positive outlook on Archer Aviation, with an average rating of "Moderate Buy" and an average price target of $13.43, reflecting confidence in the company's future prospects.
• Insider selling activity includes CTO Thomas Paul Muniz and CFO Priya Gupta, who reduced their holdings, indicating a 6.09% and 6.50% decrease in their respective positions.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price rose 1.4% on Thursday . The company traded as high as $9.32 and last traded at $9.28. Approximately 5,205,969 shares were traded during trading, a decline of 84% from the average daily volume of 32,550,008 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

ACHR has been the subject of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Stock Performance

The firm has a 50-day moving average of $10.36 and a 200-day moving average of $9.40. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of -6.89 and a beta of 3.08. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the sale, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,964 shares of company stock valued at $2,865,206 over the last quarter. Insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Archer Aviation during the fourth quarter worth $27,000. Strs Ohio acquired a new position in Archer Aviation during the first quarter worth $27,000. Tidemark LLC lifted its stake in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after purchasing an additional 2,000 shares in the last quarter. Finally, AlphaQuest LLC increased its position in shares of Archer Aviation by 1,181.6% during the second 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 period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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