Archer Aviation Inc. (NYSE:ACHR – Get Free Report)’s stock price traded up 1% during mid-day trading on Thursday . The company traded as high as $9.61 and last traded at $8.88. 12,904,074 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 33,870,820 shares. The stock had previously closed at $8.79.
Analysts Set New Price Targets
ACHR has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a research report on Thursday. Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.38.
Check Out Our Latest Stock Report on Archer Aviation
Archer Aviation Trading Up 3.9 %
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its earnings results 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 period last year, the business earned ($0.19) earnings per share. Equities analysts forecast that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.
Insider Transactions at Archer Aviation
In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares of the company’s stock, valued at $1,263,072. The trade was a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Archer Aviation
A number of large investors have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at $26,000. Code Waechter LLC acquired a new position in shares of Archer Aviation in the 3rd quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Hollencrest Capital Management boosted its position in shares of Archer Aviation by 50.0% during the 2nd 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. Finally, Cyndeo Wealth Partners LLC bought a new position in Archer Aviation in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.
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.
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