Archer Aviation (NYSE:ACHR) Sees Unusually-High Trading Volume Following Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) shares saw unusually-high trading volume on Wednesday following insider buying activity. Approximately 6,483,046 shares changed hands during trading, a decline of 32% from the previous session’s volume of 9,511,340 shares.The stock last traded at $7.87 and had previously closed at $7.22.

Specifically, Director Deborah Diaz bought 5,150 shares of the stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein acquired 19,762 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $5.12 per share, for a total transaction of $101,181.44. Following the acquisition, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of research firms recently commented on ACHR. HC Wainwright began coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Archer Aviation Trading Up 14.5 %

The business’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -5.96 and a beta of 2.29.

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 analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business earned ($0.19) EPS. Equities analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the third quarter worth approximately $26,000. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares in the last quarter. CWM LLC increased its position in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Code Waechter LLC acquired a new stake in shares of Archer Aviation in the third quarter worth $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new stake in shares of Archer Aviation in the third quarter worth $31,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.