Archer Aviation (NYSE:ACHR) Stock Price Up 1% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) traded up 1% during trading on Thursday . The company traded as high as $9.61 and last traded at $8.88. 12,904,074 shares were traded during trading, a decline of 62% from the average session volume of 33,870,820 shares. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

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

Archer Aviation Trading Down 3.2 %

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.74 billion, a PE ratio of -6.66 and a beta of 3.15. The company has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $5.21.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS 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. Analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’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 transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 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 currently owned by insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Barclays PLC increased its stake in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during the period. HBK Investments L P purchased a new stake in Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Benjamin Edwards Inc. increased its position in Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after purchasing an additional 105,425 shares during the period. Yarbrough Capital LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $6,039,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the period. 59.34% of the stock is 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.