Archer Aviation (NYSE:ACHR) Stock Price Up 3.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) rose 3.5% during mid-day trading on Thursday . The company traded as high as $5.46 and last traded at $5.4040. Approximately 25,485,904 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 36,824,844 shares. The stock had previously closed at $5.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Barclays raised Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.50.

Archer Aviation Stock Performance

The stock has a market capitalization of $4.06 billion, a P/E ratio of -4.88 and a beta of 3.23. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $5.53 and a two-hundred day moving average price of $5.70.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, equities analysts forecast that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Activity

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider directly owned 85,011 shares in the company, valued at $536,419.41. This trade represents a 54.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares of the company’s stock, valued at $1,299,845.44. This represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 176,657 shares of company stock worth $1,122,371. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC increased its holdings in Archer Aviation by 9.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,917 shares of the company’s stock worth $157,000 after purchasing an additional 1,776 shares in the last quarter. WCG Wealth Advisors LLC boosted its position in shares of Archer Aviation by 5.7% during the fourth quarter. WCG Wealth Advisors LLC now owns 33,459 shares of the company’s stock valued at $252,000 after buying an additional 1,802 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Archer Aviation by 22.9% during the second quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after buying an additional 2,447 shares during the last quarter. EMC Capital Management grew its holdings in Archer Aviation by 22.5% during the fourth quarter. EMC Capital Management now owns 13,600 shares of the company’s stock worth $102,000 after buying an additional 2,500 shares in the last quarter. Finally, Gould Capital LLC raised its position in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to transport passengers over short distances using distributed electric propulsion, with the goal of providing quieter and potentially faster alternatives to traditional ground transportation in congested urban areas.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft intended for commercial air taxi operations.