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

Shares of Archer Aviation Inc. (NYSE:ACHR) gapped up before the market opened on Tuesday . The stock had previously closed at $10.35, but opened at $11.00. Archer Aviation shares last traded at $11.11, with a volume of 24,952,814 shares traded.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Canaccord Genuity Group lowered their price objective on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

Archer Aviation Stock Performance

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.52 billion, a P/E ratio of -8.06 and a beta of 3.13. The business’s 50 day simple moving average is $9.48 and its two-hundred day simple moving average is $5.95.

Insider Buying and Selling

In related news, CEO Adam D. Goldstein purchased 19,762 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares in the company, valued at $10,316,236.80. The trade was a 0.99 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the acquisition, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,057,729 shares worth $8,473,770. 9.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of ACHR. EP Wealth Advisors LLC increased its position in Archer Aviation by 6.7% during 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 during the last quarter. Harbour Investments Inc. increased its position in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the last quarter. 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.