Archer Aviation (NYSE:ACHR) Stock Price Up 10.3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 10.3% during trading on Thursday . The stock traded as high as $3.62 and last traded at $3.54. Approximately 12,943,614 shares changed hands during trading, an increase of 66% from the average daily volume of 7,781,078 shares. The stock had previously closed at $3.21.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACHR. Benchmark reissued a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright started coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -2.90 and a beta of 2.29. The stock has a 50-day moving average price of $3.16 and a 200 day moving average price of $3.61.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. As a group, analysts anticipate that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in shares of Archer Aviation by 266.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after acquiring an additional 30,075 shares during the last quarter. Swiss National Bank raised its stake in Archer Aviation by 2.3% in the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after purchasing an additional 8,500 shares in the last quarter. Interchange Capital Partners LLC boosted its holdings in Archer Aviation by 48.7% in the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after purchasing an additional 8,361 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after purchasing an additional 8,717 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in shares of Archer Aviation during the first quarter worth approximately $266,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.