Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares saw unusually-strong trading volume on Tuesday . Approximately 4,171,964 shares were traded during mid-day trading, a decline of 51% from the previous session’s volume of 8,551,855 shares.The stock last traded at $4.59 and had previously closed at $4.41.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACHR. HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. JPMorgan Chase & Co. upped their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday. They issued a “buy” rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Archer Aviation Stock Up 12.7 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm’s 50 day moving average price is $3.30 and its two-hundred day moving average price is $3.62. The company has a market cap of $2.11 billion, a P/E ratio of -3.52 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 quarter in the previous year, the business posted ($0.19) EPS. Equities research 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 have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC raised its position in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after purchasing an additional 268,896 shares during the period. Barclays PLC increased its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in Archer Aviation during the 3rd quarter valued at $583,000. XTX Topco Ltd acquired a new position in Archer Aviation during the third quarter worth $397,000. Finally, EP Wealth Advisors LLC lifted its stake in shares of Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.