Archer Aviation (NYSE:ACHR) Shares Gap Up to $3.25

Archer Aviation Inc. (NYSE:ACHRGet Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $3.25, but opened at $3.40. Archer Aviation shares last traded at $3.32, with a volume of 1,471,874 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACHR shares. Benchmark restated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Barclays cut their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.25.

View Our Latest Research Report on Archer Aviation

Archer Aviation Price Performance

The stock has a fifty day moving average of $3.84 and a two-hundred day moving average of $4.89. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.10 and a beta of 2.35. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHRGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same quarter in the previous year, the business earned ($0.46) earnings per share. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insider Activity

In other news, major shareholder N.V. Stellantis bought 750,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $5.19 per share, with a total value of $3,892,500.00. Following the purchase, the insider now owns 39,351,720 shares of the company’s stock, valued at $204,235,426.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders bought 2,350,000 shares of company stock valued at $12,044,500. Company insiders own 27.17% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vestor Capital LLC acquired a new stake in shares of Archer Aviation in the 4th quarter valued at $61,000. Janney Montgomery Scott LLC acquired a new stake in shares of Archer Aviation during the third quarter worth $52,000. Tidal Investments LLC acquired a new stake in shares of Archer Aviation during the first quarter worth $49,000. Keating Wealth Management LLC bought a new stake in Archer Aviation in the fourth quarter valued at about $69,000. Finally, StoneX Group Inc. bought a new stake in Archer Aviation in the fourth quarter valued at about $70,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

(Get Free Report)

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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