Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz Purchases 5,150 Shares

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Archer Aviation Price Performance

Shares of ACHR opened at $7.23 on Wednesday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.90. The stock has a market cap of $3.07 billion, a PE ratio of -5.47 and a beta of 2.29. 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 fifty day moving average price of $3.57 and a 200 day moving average price of $3.69.

Archer Aviation (NYSE:ACHR) last announced its quarterly 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 quarter in the previous year, the firm earned ($0.19) EPS. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright started coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $9.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Miller Wealth Advisors LLC acquired a new position in Archer Aviation in the third quarter valued at $26,000. Code Waechter LLC acquired a new position in Archer Aviation in the third quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation in the third quarter valued at $31,000. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the period. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% in the second 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 period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.