Archer Aviation (NYSE:ACHR) Shares Up 1.9% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 1.9% on Thursday . The company traded as high as $4.54 and last traded at $4.36. 5,598,433 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 8,438,635 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

Several equities analysts recently weighed in on ACHR shares. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. HC Wainwright began coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Down 4.1 %

The stock has a 50 day moving average price of $3.28 and a 200 day moving average price of $3.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.49 and a current ratio of 6.03. The company has a market capitalization of $1.46 billion, a P/E ratio of -3.12 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company earned ($0.19) EPS. Equities research analysts forecast that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Miller Wealth Advisors LLC purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC bought a new position in shares of Archer Aviation in the third quarter worth $30,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Archer Aviation in the third quarter valued at $31,000. Hollencrest Capital Management raised its stake in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the period. Finally, CWM LLC raised its stake in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the period. 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.