Archer Aviation (NYSE:ACHR) Trading Up 7.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price rose 7.5% during mid-day trading on Friday . The stock traded as high as $10.07 and last traded at $9.96. Approximately 13,695,403 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 29,002,758 shares. The stock had previously closed at $9.27.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACHR shares. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 4.6 %

The business’s 50 day simple moving average is $9.02 and its 200-day simple moving average is $5.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock has a market capitalization of $4.12 billion, a P/E ratio of -7.37 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) EPS. As a group, analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Archer Aviation during the fourth quarter worth $49,000. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the 3rd quarter valued at $26,000. Versant Capital Management Inc grew its stake in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares during the period. Finally, Code Waechter LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at $30,000. 59.34% of the stock is currently owned by institutional investors.

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.