Archer Aviation (NYSE:ACHR) Trading Up 5.4% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 5.4% during mid-day trading on Wednesday . The company traded as high as $9.00 and last traded at $8.9310. 60,480,831 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 50,557,852 shares. The stock had previously closed at $8.47.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Canaccord Genuity Group lifted their target price 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. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Trading Up 0.1%

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 stock’s 50 day moving average is $8.11 and its 200-day moving average is $9.54. The company has a market capitalization of $5.78 billion, a P/E ratio of -7.04 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,272,129 shares in the company, valued at $10,177,032. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Lentell sold 41,490 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the sale, the insider directly owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 307,635 shares of company stock valued at $2,367,936 in the last three months. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

A number of hedge funds have recently made changes to their positions in ACHR. AQR Capital Management LLC purchased a new position in Archer Aviation during the first quarter valued at $293,000. Integrated Wealth Concepts LLC increased its holdings in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after acquiring an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after acquiring an additional 59,317 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after purchasing an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Archer Aviation by 51.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after purchasing an additional 285,414 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.