Archer Aviation (NYSE:ACHR) Hits New 52-Week High – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $11.05 and last traded at $10.92, with a volume of 28716142 shares changing hands. The stock had previously closed at $9.38.

Analysts Set New Price Targets

ACHR has been the subject of several research reports. Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Stock Up 15.4 %

The business’s 50-day moving average is $5.60 and its two-hundred day moving average is $4.34. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -8.20 and a beta of 3.19. 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 posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the business posted ($0.19) EPS. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief technology officer now owns 1,120,360 shares of the company’s stock, valued at $10,083,240. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Spellacy sold 191,513 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total transaction of $1,915,130.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management grew its stake in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. Tidal Investments LLC grew its position in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after purchasing an additional 3,339 shares in the last quarter. Hsbc Holdings PLC increased its stake in Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Archer Aviation by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.