Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares saw unusually-strong trading volume on Wednesday . Approximately 7,996,493 shares traded hands during trading, a decline of 4% from the previous session’s volume of 8,337,680 shares.The stock last traded at $4.53 and had previously closed at $4.66.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ACHR shares. HC Wainwright started coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Price Performance

The company’s 50 day moving average is $3.26 and its 200-day moving average is $3.62. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.24 and a beta of 2.29. The company has a current ratio of 6.03, a quick ratio of 4.49 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 last year, the company earned ($0.19) EPS. Equities research analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Janney Montgomery Scott LLC grew its stake in shares of Archer Aviation by 266.5% during the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after buying an additional 30,075 shares during the last quarter. Swiss National Bank grew its stake in shares of Archer Aviation by 2.3% during the first quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after buying an additional 8,500 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Archer Aviation by 8.3% during the first quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after buying an additional 8,717 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Archer Aviation during the first quarter worth $266,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of Archer Aviation during the first quarter worth $117,000. 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.