Archer Aviation (NYSE:ACHR) Trading Up 0.5% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) traded up 0.5% during trading on Tuesday . The company traded as high as $8.90 and last traded at $8.27. 11,181,834 shares were traded during mid-day trading, a decline of 68% from the average session volume of 35,344,574 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 3.4 %

The stock has a market capitalization of $3.86 billion, a P/E ratio of -6.88 and a beta of 3.15. The firm’s 50 day simple moving average is $7.96 and its two-hundred day simple moving average is $5.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. As a group, analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P purchased a new position in Archer Aviation in the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. grew its stake in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares during the period. Sora Investors LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at $3,429,000. Finally, Intellectus Partners LLC increased its position in shares of Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock valued at $2,790,000 after purchasing an additional 11,800 shares during the last quarter. 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.