Archer Aviation (NYSE:ACHR) Shares Up 4.1% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price shot up 4.1% on Thursday . The stock traded as high as $7.40 and last traded at $7.39. 37,018,996 shares were traded during trading, a decline of 7% from the average session volume of 39,800,047 shares. The stock had previously closed at $7.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACHR. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a report on Wednesday, January 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

Archer Aviation Stock Performance

The firm’s fifty day moving average is $7.81 and its 200 day moving average is $8.89. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -5.87 and a beta of 3.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Bank of Jackson Hole Trust increased its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Archer Aviation by 2.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after buying an additional 1,107 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after acquiring an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in shares of Archer Aviation by 2.9% in the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after acquiring an additional 1,254 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.