Archer Aviation (NYSE:ACHR) Trading Up 6.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price shot up 6.5% during trading on Thursday . The stock traded as high as $9.15 and last traded at $9.02. 53,407,864 shares were traded during mid-day trading, an increase of 7% from the average session volume of 50,081,023 shares. The stock had previously closed at $8.47.

Analyst Ratings Changes

Several research firms have issued reports on ACHR. Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a research note on Wednesday, January 14th. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Price Performance

The firm has a 50-day moving average of $8.14 and a 200-day moving average of $9.49. The stock has a market cap of $5.61 billion, a PE ratio of -6.84 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 45,018 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the sale, the chief financial officer owned 161,523 shares in the company, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 307,635 shares of company stock worth $2,367,936 in the last three months. Insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter worth approximately $27,000. AlphaQuest LLC boosted its position in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation in the third quarter valued at $29,000. Bank of Jackson Hole Trust grew its holdings in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after purchasing an additional 2,024 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.