Archer Aviation (NYSE:ACHR) Shares Up 5.7% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 5.7% during mid-day trading on Friday . The stock traded as high as $10.48 and last traded at $10.45. Approximately 14,588,464 shares were traded during trading, a decline of 54% from the average daily volume of 31,694,111 shares. The stock had previously closed at $9.89.

Analyst Ratings Changes

ACHR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald upped their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Up 5.0 %

The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -7.86 and a beta of 3.15. 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 50-day moving average of $8.47 and a 200-day moving average of $5.32.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data 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 last year, the company earned ($0.19) EPS. Sell-side analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now directly owns 197,355 shares in the company, valued at approximately $1,263,072. This trade represents a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds have recently added to or reduced their stakes in the stock. HBK Investments L P acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation in the 3rd quarter valued at approximately $3,429,000. Yarbrough Capital LLC bought a new position in shares of Archer Aviation during the fourth quarter valued at $6,039,000. Stifel Financial Corp lifted its holdings in shares of Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the period. Finally, Barclays PLC grew its stake in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.