Archer Aviation (NYSE:ACHR) Trading 3.9% Higher - What's Next?

Key Points

• Archer Aviation's stock rose 3.9% on Thursday, trading at $10.20, with a significant increase in trading volume to 56 million shares, up 70% from the average.
• Analysts maintain a positive outlook, with seven firms issuing a "Buy" rating and a consensus price target of $13.43 for the stock, despite it missing earnings expectations in its latest report.
• Insider trading activity has seen significant share sales, with one insider selling over 48,000 shares and another reducing their stake by 12.65%, amidst a heavy institutional ownership of nearly 59%

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded up 3.9% on Thursday . The stock traded as high as $10.42 and last traded at $10.20. 56,044,106 shares were traded during trading, an increase of 70% from the average session volume of 33,005,832 shares. The stock had previously closed at $9.81.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. UBS Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Up 3.9%

The company's fifty day moving average is $9.50 and its two-hundred day moving average is $9.48. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of -7.55 and a beta of 3.06. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Lentell sold 48,936 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. This trade represents a 50.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the sale, the insider directly owned 295,337 shares in the company, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,068 shares of company stock worth $1,848,708 in the last ninety days. 7.65% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in shares of Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after acquiring an additional 1,664 shares during the period. Strs Ohio acquired a new position in shares of Archer Aviation in the 1st quarter valued at $27,000. Tidemark LLC increased its holdings in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 2,000 shares during the period. AlphaQuest LLC increased 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 valued at $28,000 after acquiring an additional 2,375 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Archer Aviation in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Company Profile

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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