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

Archer Aviation Inc. (NYSE:ACHR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.35, but opened at $11.00. Archer Aviation shares last traded at $11.11, with a volume of 24,952,814 shares trading hands.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Archer Aviation Price Performance

The firm has a market cap of $4.52 billion, a P/E ratio of -8.06 and a beta of 3.13. The firm’s fifty day simple moving average is $9.48 and its 200 day simple moving average is $5.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam D. Goldstein bought 19,762 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the transaction, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,057,729 shares worth $8,473,770. 9.75% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter valued at $27,000. PharVision Advisers LLC purchased a new stake in Archer Aviation in the 4th quarter worth about $187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Archer Aviation by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after purchasing an additional 215,593 shares during the last quarter. Vident Advisory LLC purchased a new position in shares of Archer Aviation during the fourth quarter valued at approximately $186,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Archer Aviation during the fourth quarter valued at approximately $2,877,000. 59.34% of the stock is currently owned by institutional investors.

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.