Automaker Stellantis N.V. (STLA), one of the major investors of Archer Aviation (ACHR), recently bought shares of ACHR worth $5 million. This investment is part of ACHR’s plan to raise about $430 million in additional equity capital from companies such as STLA and United Airlines (UAL) to support the recently signed deal with Anduril Industries.
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Last week, Archer and Anduril Industries joined hands to develop a hybrid vertical takeoff and landing (VTOL) aircraft for defense applications. This deal helped boost investor confidence in ACHR stock as it gained 17% in Friday’s trading session.
Archer is an aerospace company that is currently developing VTOL aircraft to provide air taxi services. For a thorough assessment of the stock, go to TipRanks’ Stock Analysis page.
Closer Look at STLA-ACHR History
It is worth noting that Stellantis has been an investor in ACHR since 2021. Moreover, in 2023, the company invested $110 million in Archer through open-market stock purchases.
In addition, STLA purchased shares of Archer stock worth $10 million and $55 million in August and July of this year, respectively.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is ACHR a Good Stock to Buy?
Turning to Wall Street, ACHR stock has a Strong Buy consensus rating based on five Buys and one Hold assigned in the last three months. At $11, the average Archer price target implies a 31.11% upside potential. Shares of the company have gained over 36% year-to-date.
