Archer Aviation (NYSE:ACHR) Trading 1.7% Higher - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price traded up 1.7% during trading on Wednesday . The company traded as high as $11.37 and last traded at $11.18. 13,392,839 shares traded hands during trading, a decline of 53% from the average session volume of 28,408,189 shares. The stock had previously closed at $10.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. UBS Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.13.

Archer Aviation Stock Performance

The firm's 50-day moving average price is $10.78 and its 200 day moving average price is $9.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -8.37 and a beta of 3.10.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $8.47, for a total value of $423,500.00. Following the transaction, the insider owned 212,673 shares of the company's stock, valued at approximately $1,801,340.31. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mesler sold 50,775 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $659,567.25. Following the completion of the transaction, the chief financial officer directly owned 711,525 shares in the company, valued at approximately $9,242,709.75. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,960 shares of company stock worth $4,441,519 over the last ninety days. 7.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in ACHR. EP Wealth Advisors LLC grew its stake in shares of Archer Aviation by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock valued at $156,000 after acquiring an additional 1,000 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after acquiring an additional 1,106 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Archer Aviation by 0.7% in the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after acquiring an additional 1,211 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Xponance Inc. lifted its position in Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after purchasing an additional 1,299 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.