Archer Aviation (NYSE:ACHR) Trading Up 4.5% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) traded up 4.5% on Friday . The stock traded as high as $7.93 and last traded at $7.8280. 23,522,107 shares were traded during mid-day trading, a decline of 40% from the average session volume of 39,531,906 shares. The stock had previously closed at $7.49.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACHR. Needham & Company LLC lowered their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. JPMorgan Chase & Co. decreased their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.71.

Archer Aviation Price Performance

The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -6.21 and a beta of 3.07. The company has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $10.12. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Thomas Paul Muniz sold 90,648 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the transaction, the chief technology officer owned 1,397,129 shares of the company’s stock, valued at approximately $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 182,635 shares of company stock worth $1,367,936 in the last ninety days. Insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. CIBC Bancorp USA Inc. acquired a new position in Archer Aviation during the 3rd quarter worth $563,000. Sunbelt Securities Inc. lifted its holdings in Archer Aviation by 83.2% in the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the company’s stock worth $48,000 after purchasing an additional 2,271 shares during the period. Advisory Services Network LLC bought a new position in Archer Aviation in the 3rd quarter valued at about $81,000. Camelot Portfolios LLC acquired a new position in Archer Aviation during the 3rd quarter valued at about $144,000. Finally, Kestra Private Wealth Services LLC raised its position in shares of Archer Aviation by 14.6% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 30,483 shares of the company’s stock worth $292,000 after buying an additional 3,875 shares in the last quarter. 59.34% of the stock is 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.