Archer Aviation (NYSE:ACHR) Trading Up 1.8% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was up 1.8% during mid-day trading on Tuesday . The stock traded as high as $4.73 and last traded at $4.59. Approximately 13,162,155 shares were traded during trading, an increase of 60% from the average daily volume of 8,227,790 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Stock Up 0.2 %

The stock has a 50-day simple moving average of $3.24 and a two-hundred day simple moving average of $3.61. The company has a quick ratio of 4.49, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.53 billion, a PE ratio of -3.30 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data 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 period in the previous year, the firm posted ($0.19) earnings per share. Analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Miller Wealth Advisors LLC purchased a new position in shares of Archer Aviation in the third quarter worth about $26,000. Hollencrest Capital Management increased its holdings in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the period. CWM LLC increased its holdings in Archer Aviation by 62.0% during the 2nd 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 period. Code Waechter LLC purchased a new position in Archer Aviation during the 3rd quarter valued at about $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.