Insider Buying: Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Purchases 751,879 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Archer Aviation Trading Up 17.0 %

ACHR traded up $1.22 during trading hours on Friday, reaching $8.39. 83,522,534 shares of the company’s stock traded hands, compared to its average volume of 11,736,457. The firm has a 50-day moving average price of $4.78 and a 200 day moving average price of $4.05. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $9.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.57 billion, a PE ratio of -5.88 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.19) earnings per share. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the period. Tidal Investments LLC lifted its stake in shares of 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 purchasing an additional 3,339 shares during the last quarter. Hsbc Holdings PLC boosted its position in Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares in the last quarter. Finally, CWM LLC grew its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the topic of a number of recent research reports. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $10.25.

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.