Archer Aviation (NYSE:ACHR) Shares Gap Up – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $7.42, but opened at $7.60. Archer Aviation shares last traded at $7.3840, with a volume of 6,567,212 shares trading hands.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Canaccord Genuity Group reduced their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Needham & Company LLC dropped their price objective on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Cantor Fitzgerald set a $13.00 target price on shares of Archer Aviation in a research note on Monday, November 10th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Archer Aviation Trading Down 6.5%

The business’s 50 day moving average price is $10.22 and its two-hundred day moving average price is $10.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -5.53 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares of the company’s stock, valued at $627,160.17. This trade represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the transaction, the chief technology officer directly owned 1,397,129 shares in the company, valued at approximately $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 182,635 shares of company stock worth $1,367,936. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Strs Ohio purchased a new stake in Archer Aviation during the first quarter valued at about $27,000. Tidemark LLC lifted its position in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in Archer Aviation in the 3rd quarter worth approximately $29,000. Finally, Bank of Jackson Hole Trust grew its position in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.