Archer Aviation (NYSE:ACHR) Stock Price Up 1.4% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 1.4% on Wednesday . The stock traded as high as $8.28 and last traded at $8.22. 5,024,039 shares were traded during trading, a decline of 73% from the average session volume of 18,694,830 shares. The stock had previously closed at $8.11.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ACHR shares. Needham & Company LLC lifted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Trading Up 1.0 %

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 $8.89 and a two-hundred day simple moving average of $6.61. The firm has a market capitalization of $4.44 billion, a P/E ratio of -6.22 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,985 shares of company stock valued at $2,555,685. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in 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 buying an additional 312,440 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after acquiring an additional 36,840 shares during the last quarter. HBK Investments L P purchased a new position in Archer Aviation in the third quarter worth $6,818,000. ARK Investment Management LLC increased its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new position in Archer Aviation in the fourth quarter valued at $6,039,000. 59.34% of the stock is currently owned by institutional investors.

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.