Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CEO Adam D. Goldstein bought 19,762 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the transaction, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. The trade was a 0.99 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Archer Aviation Stock Up 4.0 %
Shares of NYSE ACHR traded up $0.23 during mid-day trading on Friday, reaching $6.01. The company had a trading volume of 25,413,904 shares, compared to its average volume of 8,998,764. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $7.01. The stock's 50 day moving average is $3.37 and its 200-day moving average is $3.63. The stock has a market capitalization of $2.56 billion, a PE ratio of -4.52 and a beta of 2.29.
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Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth $26,000. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after acquiring an additional 3,000 shares during the period. CWM LLC grew its position in shares of 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. Code Waechter LLC bought a new position in shares of Archer Aviation in the third quarter worth about $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation during the 3rd quarter worth about $31,000. Institutional investors own 59.34% of the company's stock.
Analysts Set New Price Targets
ACHR has been the subject of several research analyst reports. Needham & Company LLC initiated coverage on Archer Aviation in a report on Tuesday. They issued a "buy" rating and a $11.00 price objective for the company. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a "buy" rating and a $12.50 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.33.
Check Out Our Latest Report on ACHR
About Archer Aviation
(
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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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