Archer Aviation (NYSE:ACHR) Sees Unusually-High Trading Volume

Shares of Archer Aviation Inc. (NYSE:ACHR – Get Rating) saw an uptick in trading volume on Friday . 1,454,777 shares changed hands during trading, a decline of 22% from the previous session’s volume of 1,857,934 shares.The stock last traded at $3.28 and had previously closed at $3.15.

Analyst Ratings Changes

Separately, Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, March 10th.

Archer Aviation Price Performance

The stock has a 50 day moving average of $2.39 and a two-hundred day moving average of $2.47. The stock has a market cap of $804.21 million, a PE ratio of -2.12 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.28 and a current ratio of 7.28.

Archer Aviation (NYSE:ACHR – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. Equities analysts anticipate that Archer Aviation Inc. will post -1.91 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently bought and sold shares of the stock. Point72 Middle East FZE acquired a new position in shares of Archer Aviation in the 4th quarter valued at about $27,000. FMR LLC increased its holdings in shares of Archer Aviation by 233.6% in the 1st quarter. FMR LLC now owns 10,265 shares of the company’s stock valued at $29,000 after purchasing an additional 7,188 shares during the period. Advisory Alpha LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at about $30,000. AE Wealth Management LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at about $30,000. Finally, Quantbot Technologies LP grew its stake in shares of Archer Aviation by 1,114.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,824 shares of the company’s stock valued at $30,000 after buying an additional 10,850 shares in the last quarter. Hedge funds and other institutional investors own 41.51% of the company’s stock.

About Archer Aviation

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Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.