Archer Aviation (NYSE:ACHR) Trading Up 6.8% - What's Next?

Key Points

• Archer Aviation's stock rose by 6.8% on Monday, closing at $12.00 after trading as high as $12.13, with a significant increase in trading volume.
• Analysts have mixed opinions on Archer Aviation, with a consensus rating of "Moderate Buy" and an average target price of $13.43.
• Insider trading revealed significant sales, with Eric Lentell and CFO Priya Gupta significantly reducing their shares, amidst a backdrop of increased institutional investment in Archer stock.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) were up 6.8% on Monday . The company traded as high as $12.13 and last traded at $12.00. Approximately 80,345,312 shares were traded during mid-day trading, an increase of 122% from the average daily volume of 36,219,273 shares. The stock had previously closed at $11.24.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ACHR shares. JPMorgan Chase & Co. increased their target price on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright restated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The company has a market cap of $7.74 billion, a P/E ratio of -8.89 and a beta of 3.06. The business has a 50-day moving average of $10.02 and a two-hundred day moving average of $9.90.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly 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, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the sale, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. This trade represents a 6.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,068 shares of company stock worth $1,848,708 in the last three months. Insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares in the last quarter. Strs Ohio acquired a new stake in shares of Archer Aviation in the first quarter worth approximately $27,000. Tidemark LLC boosted its stake in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Archer Aviation by 1,181.6% in 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 last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Archer Aviation in the first quarter worth approximately $31,000. 59.34% of the stock is currently owned by hedge funds and other 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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