Archer Aviation (NYSE:ACHR) Trading 5.7% Higher – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 5.7% during mid-day trading on Friday . The stock traded as high as $10.48 and last traded at $10.45. 14,588,464 shares traded hands during trading, a decline of 54% from the average session volume of 31,694,111 shares. The stock had previously closed at $9.89.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 0.7 %

The firm has a 50 day moving average of $8.70 and a 200 day moving average of $5.40. The firm has a market cap of $4.23 billion, a PE ratio of -7.54 and a beta of 3.15. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Equities analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam D. Goldstein bought 19,762 shares of Archer Aviation stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the transaction, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACHR. Barclays PLC grew its stake in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares in the last quarter. HBK Investments L P bought a new position in Archer Aviation in the third quarter valued at $6,818,000. Yarbrough Capital LLC purchased a new stake in Archer Aviation during the fourth quarter valued at about $6,039,000. Benjamin Edwards Inc. lifted its stake in 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after purchasing an additional 94,430 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

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.