Archer Aviation (NYSE:ACHR) Shares Up 6.7% – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 6.7% during mid-day trading on Monday . The stock traded as high as $9.84 and last traded at $9.63. Approximately 17,769,403 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 27,743,865 shares. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Archer Aviation Trading Up 0.8 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.98 billion, a PE ratio of -7.09 and a beta of 3.13. The stock’s fifty day simple moving average is $9.30 and its 200 day simple moving average is $5.79.

Insider Transactions at Archer Aviation

In related news, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares in the company, valued at $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock valued at $162,000 after purchasing an additional 1,299 shares during the period. Hollencrest Capital Management grew its position in shares of Archer Aviation by 7.4% during the 4th quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock worth $254,000 after buying an additional 1,800 shares in the last quarter. Finally, Interchange Capital Partners LLC lifted its stake in Archer Aviation by 8.0% in the fourth quarter. Interchange Capital Partners LLC now owns 26,494 shares of the company’s stock worth $258,000 after acquiring an additional 1,972 shares during the period. Hedge funds and other institutional investors 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.