Archer Aviation (NYSE:ACHR) Trading Up 1.9% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares rose 1.9% during trading on Thursday . The stock traded as high as $4.54 and last traded at $4.36. Approximately 5,598,433 shares changed hands during trading, a decline of 34% from the average daily volume of 8,438,635 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

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

Archer Aviation Trading Up 1.6 %

The business has a 50 day simple moving average of $3.24 and a 200-day simple moving average of $3.61. The stock has a market capitalization of $1.55 billion, a P/E ratio of -3.30 and a beta of 2.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.49 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company earned ($0.19) earnings per share. On average, analysts predict that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the company. Alpine Global Management LLC acquired a new stake in shares of Archer Aviation during the first quarter valued at approximately $5,782,000. Intellectus Partners LLC lifted its holdings in shares of Archer Aviation by 136.1% in the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after purchasing an additional 523,024 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Archer Aviation by 23.9% in 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 buying an additional 254,460 shares during the period. Raymond James & Associates boosted its position in shares of Archer Aviation by 44.4% in the second quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after buying an additional 192,120 shares during the period. Finally, DNB Asset Management AS grew its stake in Archer Aviation by 195.1% during the 2nd quarter. DNB Asset Management AS now owns 263,063 shares of the company’s stock valued at $926,000 after acquiring an additional 173,919 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other 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.