Archer Aviation (NYSE:ACHR) Stock Price Up 1.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) shares were up 1.3% during mid-day trading on Thursday . The company traded as high as $11.22 and last traded at $10.94. Approximately 26,324,126 shares were traded during trading, an increase of 101% from the average daily volume of 13,091,837 shares. The stock had previously closed at $10.80.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group upped their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Stock Performance

The firm has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $4.40. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -8.52 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, Director Deborah Diaz purchased 5,150 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $31,000. Hollencrest Capital Management boosted its position in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in Archer Aviation in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.