Archer Aviation (NYSE:ACHR) Stock Price Up 0.3% – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 0.3% during mid-day trading on Tuesday . The stock traded as high as $8.98 and last traded at $8.90. 12,747,716 shares traded hands during trading, an increase of 6% from the average session volume of 11,990,922 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Trading Down 5.9 %

The stock has a market capitalization of $3.58 billion, a PE ratio of -6.38 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business’s 50-day moving average is $5.24 and its two-hundred day moving average is $4.22.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the business posted ($0.19) EPS. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Activity

In related news, CEO Adam D. Goldstein bought 19,762 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the completion of the acquisition, the chief executive officer now owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the sale, the insider now owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,621,386 shares valued at $9,686,577. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation in the third quarter valued at $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation during the 3rd quarter valued at about $31,000. Hollencrest Capital Management raised its position in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, CWM LLC raised its position in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.