Archer Aviation (NYSE:ACHR) Stock Price Up 3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 3% on Friday. The company traded as high as $3.96 and last traded at $3.9150. Approximately 19,878,531 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 35,196,637 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

Several research firms recently weighed in on ACHR. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. UBS Group reissued an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Archer Aviation Price Performance

The company has a market cap of $3.01 billion, a price-to-earnings ratio of -3.62 and a beta of 3.27. The company has a fifty day moving average price of $5.31 and a two-hundred day moving average price of $5.50. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the transaction, the insider owned 85,011 shares in the company, valued at $536,419.41. This trade represents a 54.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the completion of the sale, the chief accounting officer directly owned 110,847 shares in the company, valued at approximately $710,529.27. This represents a 11.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 176,657 shares of company stock valued at $1,122,371. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vima LLC grew its holdings in shares of Archer Aviation by 203.8% in the 3rd quarter. Vima LLC now owns 6,365 shares of the company’s stock worth $32,000 after purchasing an additional 4,270 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Archer Aviation by 14.2% during the 3rd quarter. Ascent Wealth Partners LLC now owns 31,758 shares of the company’s stock worth $158,000 after purchasing an additional 3,941 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Archer Aviation by 36.6% during the 3rd quarter. Sterling Capital Management LLC now owns 15,199 shares of the company’s stock valued at $76,000 after purchasing an additional 4,069 shares during the last quarter. Brookstone Capital Management lifted its holdings in Archer Aviation by 37.0% during the 3rd quarter. Brookstone Capital Management now owns 20,279 shares of the company’s stock valued at $101,000 after purchasing an additional 5,472 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in Archer Aviation by 9.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 77,384 shares of the company’s stock valued at $385,000 after purchasing an additional 6,411 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company’s primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.