Archer Aviation (NYSE:ACHR) Shares Up 3.7% – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) were up 3.7% on Thursday . The company traded as high as $8.64 and last traded at $8.51. Approximately 11,575,261 shares were traded during trading, a decline of 64% from the average daily volume of 32,356,707 shares. The stock had previously closed at $8.21.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ACHR shares. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. Cantor Fitzgerald increased their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group cut their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Raymond James increased their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.33.

Archer Aviation Stock Down 3.5 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $6.19. The firm has a market cap of $3.37 billion, a PE ratio of -6.00 and a beta of 3.14.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the transaction, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Eric Lentell sold 114,788 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $6.74, for a total value of $773,671.12. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock valued at $8,473,770 over the last quarter. 9.75% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. Barclays PLC increased 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 buying an additional 312,440 shares during the period. HBK Investments L P bought a new stake in Archer Aviation in the 3rd quarter worth $6,818,000. ARK Investment Management LLC increased its position in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the period. Yarbrough Capital LLC bought a new position in shares of Archer Aviation during the fourth quarter valued at about $6,039,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Archer Aviation by 12,656.1% during the third 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. 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.