Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares saw an uptick in trading volume on Wednesday . 7,996,493 shares traded hands during trading, a decline of 4% from the previous session’s volume of 8,337,680 shares.The stock last traded at $4.53 and had previously closed at $4.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ACHR. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Performance

The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -3.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 4.49. The firm’s fifty day moving average is $3.26 and its 200-day moving average is $3.62.

Archer Aviation (NYSE:ACHR) last released its 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 business posted ($0.19) EPS. Equities analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HBK Investments L P bought a new stake in Archer Aviation in the third quarter valued at $6,818,000. Charles Schwab Investment Management Inc. increased its position in shares of Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after acquiring an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Archer Aviation by 23.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Archer Aviation during the first quarter worth about $5,782,000. Finally, Intellectus Partners LLC increased its position in shares of 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 acquiring an additional 11,800 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.