Archer Aviation (NYSE:ACHR) Trading Up 7% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares rose 7% during trading on Friday . The company traded as high as $9.06 and last traded at $9.01. Approximately 17,290,308 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 12,576,161 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

ACHR has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. Canaccord Genuity Group upped their price target on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. 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. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $10.63.

Archer Aviation Trading Up 16.9 %

The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -7.45 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. The business has a 50-day moving average of $5.35 and a 200-day moving average of $4.25.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) earnings per share. Research analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder N.V. Stellantis purchased 751,879 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’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 owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,621,386 shares valued at $9,686,577. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several large investors have recently made changes to their positions in ACHR. HBK Investments L P bought a new position in shares of Archer Aviation in the 3rd quarter valued at $6,818,000. Benjamin Edwards Inc. grew its holdings in shares of Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after purchasing an additional 105,425 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after acquiring an additional 94,430 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Archer Aviation during the 3rd quarter worth $578,000. Finally, XTX Topco Ltd bought a new stake in shares of Archer Aviation in the 3rd quarter valued at about $397,000. 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.