Archer Aviation (NYSE:ACHR) Shares Gap Up – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares gapped up before the market opened on Monday . The stock had previously closed at $3.89, but opened at $4.28. Archer Aviation shares last traded at $4.29, with a volume of 12,256,770 shares trading hands.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Finally, HC Wainwright assumed coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Stock Up 3.4 %

The company has a quick ratio of 4.49, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average is $3.22 and its two-hundred day moving average is $3.61.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the firm posted ($0.19) EPS. As a group, research analysts predict that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

Several institutional investors have recently modified their holdings of ACHR. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at $26,000. Code Waechter LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation in the 3rd quarter valued at $31,000. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. Hedge funds and other institutional investors 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.