Archer Aviation (NYSE:ACHR) Stock Price Up 1.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 1.3% during trading on Wednesday . The stock traded as high as $10.02 and last traded at $9.83. 12,185,799 shares were traded during mid-day trading, a decline of 63% from the average session volume of 32,602,387 shares. The stock had previously closed at $9.70.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered 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. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Price Performance

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $8.36 and its 200-day moving average price is $5.29. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of -7.37 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company posted ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 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 corporate insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of ACHR. Geode Capital Management LLC grew its holdings in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. HBK Investments L P acquired a new position in Archer Aviation in the 3rd quarter valued at $6,818,000. Charles Schwab Investment Management Inc. lifted its position in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares during the period. Sora Investors LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth $3,429,000. Finally, Intellectus Partners LLC lifted its position in Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after purchasing an additional 11,800 shares during the period. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.