Archer Aviation (NYSE:ACHR) Stock Price Up 3.4% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 3.4% during trading on Tuesday . The company traded as high as $7.20 and last traded at $7.1950. 39,177,086 shares traded hands during trading, a decline of 2% from the average session volume of 40,135,230 shares. The stock had previously closed at $6.96.

Analysts Set New Price Targets

Several research analysts have commented on the company. Canaccord Genuity Group boosted their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.17.

Archer Aviation Stock Performance

The company 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. The company’s 50-day moving average price is $7.80 and its two-hundred day moving average price is $8.88.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief technology officer owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.65% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in shares of Archer Aviation during the 1st quarter valued at $293,000. Integrated Wealth Concepts LLC raised its holdings in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after purchasing an additional 59,317 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Archer Aviation by 51.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares during the period. Institutional investors and hedge funds 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.