Archer Aviation (NYSE:ACHR) Stock Price Up 4.3% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) rose 4.3% on Thursday . The stock traded as high as $10.30 and last traded at $9.76. Approximately 22,799,751 shares traded hands during trading, a decline of 23% from the average daily volume of 29,686,441 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

ACHR has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group cut their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a 50-day moving average price of $9.43 and a 200-day moving average price of $5.88. The firm has a market capitalization of $4.39 billion, a PE ratio of -7.82 and a beta of 3.13.

Insider Activity

In related news, 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 value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $7.48 per share, with a total value 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 approximately $739,667.28. The trade was a 5.49 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new stake in Archer Aviation during the fourth quarter worth about $29,000. Oarsman Capital Inc. increased its stake in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the period. Anchor Investment Management LLC boosted its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.