Archer Aviation (NYSE:ACHR) Trading Up 1.9% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 1.9% during trading on Thursday . The stock traded as high as $4.54 and last traded at $4.36. 5,598,433 shares were traded during trading, a decline of 34% from the average session volume of 8,438,635 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ACHR shares. HC Wainwright assumed coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. 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. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Price Performance

The stock’s 50 day moving average is $3.24 and its two-hundred day moving average is $3.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.49 and a current ratio of 6.03. The stock has a market capitalization of $1.55 billion, a PE ratio of -3.30 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results 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 period in the previous year, the firm earned ($0.19) EPS. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Axxcess Wealth Management LLC raised its position in shares of Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after buying an additional 9,713 shares during the period. Kingsview Wealth Management LLC raised its position in Archer Aviation by 8.3% in the first quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock valued at $524,000 after purchasing an additional 8,717 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at $117,000. Cetera Advisors LLC purchased a new position in shares of Archer Aviation during the 1st quarter worth $80,000. Finally, Blair William & Co. IL acquired a new stake in shares of Archer Aviation during the 1st quarter worth about $266,000. 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.