Archer Aviation (NYSE:ACHR) Trading Up 1.3% – Should You Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 1.3% on Tuesday . The company traded as high as $8.09 and last traded at $7.9350. 37,303,974 shares changed hands during trading, a decline of 6% from the average session volume of 39,523,422 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC dropped their target price on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. The Goldman Sachs Group began coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Price Performance

The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $9.56 and a two-hundred day moving average price of $9.89. The firm has a market cap of $5.17 billion, a P/E ratio of -6.30 and a beta of 3.10.

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

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was 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 $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, the chief financial officer owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 182,635 shares of company stock valued at $1,367,936. 7.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently made changes to their positions in the business. Bank of Jackson Hole Trust raised its holdings in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after purchasing an additional 1,106 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after purchasing an additional 1,107 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Archer Aviation by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock valued at $1,837,000 after buying an additional 1,211 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its stake in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after buying an additional 1,237 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.