Archer Aviation (NYSE:ACHR) Trading 11.4% Higher – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) shares rose 11.4% during mid-day trading on Tuesday . The stock traded as high as $9.67 and last traded at $9.83. Approximately 15,793,469 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 32,715,354 shares. The stock had previously closed at $8.82.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research 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 stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Up 0.8 %

The stock’s fifty day moving average is $8.47 and its two-hundred day moving average is $5.32. 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 firm has a market cap of $4.19 billion, a P/E ratio of -7.46 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results 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 quarter in the previous year, the firm earned ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 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. In the last ninety days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in Archer Aviation by 55.9% during the 2nd quarter. Blair William & Co. IL now owns 89,834 shares of the company’s stock valued at $316,000 after buying an additional 32,204 shares during the last quarter. Hsbc Holdings PLC increased its position in Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after acquiring an additional 3,341 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Archer Aviation by 5,615.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 121,857 shares of the company’s stock valued at $429,000 after acquiring an additional 119,725 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in Archer Aviation by 47.5% in the second quarter. Ensign Peak Advisors Inc now owns 158,792 shares of the company’s stock valued at $559,000 after acquiring an additional 51,100 shares during the period. Finally, DRW Securities LLC purchased a new position in Archer Aviation in the second quarter worth about $68,000. 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.