Archer Aviation (NYSE:ACHR) Sees Large Volume Increase – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) saw unusually-high trading volume on Wednesday . Approximately 16,934,555 shares changed hands during trading, an increase of 59% from the previous session’s volume of 10,623,305 shares.The stock last traded at $7.07 and had previously closed at $6.75.

Analyst Ratings Changes

ACHR has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Benchmark reissued a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Finally, HC Wainwright began coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.33.

Archer Aviation Trading Up 2.7 %

The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -5.42 and a beta of 3.19. 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 business’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $3.86.

Archer Aviation (NYSE:ACHR) last announced 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 business posted ($0.19) EPS. On average, research analysts expect that Archer Aviation Inc. will post -1.29 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the purchase, the director now owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. HBK Investments L P acquired a new stake in Archer Aviation in the 3rd quarter worth about $6,818,000. Sora Investors LLC acquired a new stake in Archer Aviation in the 3rd quarter worth about $3,429,000. Intellectus Partners LLC raised its stake in Archer Aviation by 136.1% in the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after purchasing an additional 523,024 shares in the last quarter. Stifel Financial Corp raised its stake in Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares in the last quarter. Finally, Barclays PLC raised 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 purchasing an additional 312,440 shares in the last quarter. 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.