Archer Aviation (NYSE:ACHR) Trading Up 4.9% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 4.9% during mid-day trading on Monday . The company traded as high as $6.89 and last traded at $6.51. 16,375,464 shares traded hands during trading, a decline of 18% from the average session volume of 19,866,601 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACHR. Raymond James lifted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Cantor Fitzgerald upped their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Stock Up 16.0 %

The company has a market cap of $4.03 billion, a P/E ratio of -5.62 and a beta of 3.16. The stock has a 50-day moving average of $8.25 and a two-hundred day moving average of $7.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation in the 4th quarter worth approximately $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the fourth quarter worth $29,000. Harbour Investments Inc. lifted its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the period. Oarsman Capital Inc. boosted its holdings in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after buying an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.