Insider Buying: Archer Aviation Inc. (NYSE:ACHR) Director Acquires 5,150 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz bought 5,150 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. This represents a 5.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Archer Aviation Trading Down 3.5 %

ACHR stock traded down $0.26 during midday trading on Tuesday, reaching $7.22. The company’s stock had a trading volume of 39,236,613 shares, compared to its average volume of 9,531,379. The business’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $3.69. The stock has a market cap of $3.07 billion, a PE ratio of -5.44 and a beta of 2.29. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $7.90. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the business earned ($0.19) earnings per share. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter valued at $80,000. Barclays PLC grew its holdings in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the period. Geode Capital Management LLC increased its position in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in Archer Aviation during the third quarter worth about $583,000. 59.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright started coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. 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 five have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $9.33.

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.