Archer Aviation (NYSE:ACHR) Stock Price Up 4.2% - What's Next?

Key Points

• Archer Aviation's stock price increased by 4.2% during trading, closing at $9.67 after reaching a high of $9.68, with trading volume up 38% from average daily levels.
• Analysts have set a consensus price target of $13.43 for the stock, with multiple firms including JPMorgan and HC Wainwright restating their "buy" ratings and increasing their price targets.
• Insider activity noted significant share sales by top executives, with the CTO selling 86,133 shares for $846,687.39, indicating a potential shift in insider sentiment.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) rose 4.2% during trading on Monday . The company traded as high as $9.68 and last traded at $9.67. Approximately 45,308,163 shares traded hands during trading, an increase of 38% from the average daily volume of 32,746,984 shares. The stock had previously closed at $9.28.

Analysts Set New Price Targets

ACHR has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Stock Up 4.2%

The stock has a market cap of $6.24 billion, a P/E ratio of -7.16 and a beta of 3.07. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average is $9.60 and its 200 day moving average is $9.46.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the transaction, the chief technology officer directly owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $481,040.88. Following the completion of the transaction, the insider directly owned 47,518 shares in the company, valued at approximately $467,101.94. This represents a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,068 shares of company stock worth $1,848,708. Insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACHR. Man Group plc increased its position in shares of Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company's stock valued at $45,708,000 after purchasing an additional 4,182,400 shares during the period. Geode Capital Management LLC grew its stake in shares of Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company's stock valued at $130,125,000 after purchasing an additional 3,671,753 shares during the period. Vanguard Group Inc. raised its holdings in shares of Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after buying an additional 3,249,106 shares in the last quarter. Nuveen LLC bought a new position in shares of Archer Aviation during the 1st quarter worth approximately $22,423,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Archer Aviation by 435.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company's stock valued at $40,688,000 after buying an additional 3,050,000 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

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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