N.V. Stellantis Purchases 751,879 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Archer Aviation Trading Up 17.0 %

Shares of Archer Aviation stock opened at $8.39 on Friday. The business has a fifty day simple moving average of $4.89 and a 200-day simple moving average of $4.09. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -6.36 and a beta of 3.19. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $9.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) EPS. On average, equities analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACHR shares. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Canaccord Genuity Group raised their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Institutional Trading of Archer Aviation

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Archer Aviation during the third quarter worth $80,000. Barclays PLC raised its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter valued at $583,000. 59.34% of the stock is currently owned by 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.