Archer Aviation (NYSE:ACHR) Trading Up 0.3% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 0.3% during mid-day trading on Monday . The company traded as high as $11.80 and last traded at $11.55. 18,011,059 shares changed hands during trading, a decline of 50% from the average session volume of 36,010,445 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACHR. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC initiated coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, 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 research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a fifty day simple moving average of $6.93 and a 200 day simple moving average of $4.81. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -8.67 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) earnings per share. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % 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, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of ACHR. Barclays PLC lifted its holdings in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during the period. HBK Investments L P bought a new position in Archer Aviation during the third quarter worth about $6,818,000. Benjamin Edwards Inc. boosted its holdings in Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.