Archer Aviation (NYSE:ACHR) Shares Up 1.3% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) rose 1.3% on Wednesday . The company traded as high as $10.02 and last traded at $9.83. Approximately 12,185,799 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 32,602,387 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

ACHR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Canaccord Genuity Group lifted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Stock Performance

The firm has a market capitalization of $4.23 billion, a PE ratio of -7.54 and a beta of 3.15. 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 company’s fifty day simple moving average is $8.47 and its 200 day simple moving average is $5.32.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results 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 quarter in the prior year, the firm posted ($0.19) EPS. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction 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 directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. HBK Investments L P purchased a new stake in Archer Aviation in the third quarter worth approximately $6,818,000. Yarbrough Capital LLC bought a new position in Archer Aviation during the fourth quarter valued at approximately $6,039,000. Benjamin Edwards Inc. raised its stake in shares of Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after acquiring an additional 105,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 worth $5,547,000 after acquiring an additional 94,430 shares during 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.