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.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
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.
