Archer Aviation (NYSE:ACHR) Shares Up 1.3% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) rose 1.3% on Tuesday . The stock traded as high as $8.09 and last traded at $7.9350. Approximately 37,303,974 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 39,523,422 shares. The stock had previously closed at $7.83.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. cut their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, The Goldman Sachs Group started coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Stock Up 3.2%

The firm’s 50-day simple moving average is $9.27 and its two-hundred day simple moving average is $9.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -6.21 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 90,648 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $678,953.52. Following the completion of the sale, the chief technology officer directly owned 1,397,129 shares of the company’s stock, valued at $10,464,496.21. The trade was a 6.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Priya Gupta sold 5,479 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. AlphaQuest LLC increased its stake in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after purchasing an additional 2,024 shares during the period. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the 3rd quarter valued at $29,000. Bank of Jackson Hole Trust boosted its position in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares during the period. Hedge funds and other 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.