Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) shares saw strong trading volume on Thursday . 7,440,267 shares were traded during mid-day trading, a decline of 4% from the previous session’s volume of 7,758,379 shares.The stock last traded at $3.60 and had previously closed at $3.21.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Trading Up 11.2 %

The firm has a fifty day moving average of $3.16 and a 200-day moving average of $3.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.90 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.07. As a group, equities analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Archer Aviation by 266.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after buying an additional 30,075 shares in the last quarter. Swiss National Bank grew its position in shares of Archer Aviation by 2.3% during the first quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after buying an additional 8,500 shares in the last quarter. Interchange Capital Partners LLC raised its holdings in Archer Aviation by 48.7% in the first quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after acquiring an additional 8,361 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock valued at $524,000 after acquiring an additional 8,717 shares during the last quarter. Finally, Blair William & Co. IL acquired a new position in Archer Aviation during the 1st quarter worth $266,000. 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.