Archer Aviation Inc. (NYSE:ACHR) Director Buys $38,522.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz purchased 5,150 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Archer Aviation Price Performance

ACHR opened at $8.08 on Friday. The stock has a 50-day moving average price of $3.75 and a 200-day moving average price of $3.74. 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 $3.44 billion, a PE ratio of -6.12 and a beta of 2.29. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $8.54.

Archer Aviation (NYSE:ACHR) last issued 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 firm earned ($0.19) earnings per share. Sell-side analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management raised its position in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the last quarter. Townsquare Capital LLC raised its position in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the last quarter. Tidal Investments LLC increased 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 purchasing an additional 3,339 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares during the last quarter. Finally, CWM LLC increased its position in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Benchmark restated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. 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 target price on the stock. Finally, Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

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.