Archer Aviation (NYSE:ACHR) Stock Price Up 1.8% – Should You Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 1.8% during mid-day trading on Friday . The stock traded as high as $9.40 and last traded at $9.26. 8,338,325 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 32,722,143 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

ACHR has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research note on Thursday. Finally, JPMorgan Chase & Co. cut 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 note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Price Performance

The firm has a market capitalization of $3.80 billion, a PE ratio of -6.77 and a beta of 3.15. The firm’s fifty day moving average price is $8.08 and its 200 day moving average price is $5.17. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its earnings results 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 business earned ($0.19) earnings per share. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 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 currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

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