Archer Aviation (NYSE:ACHR) Hits New 1-Year High – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) shares hit a new 52-week high during trading on Monday . The company traded as high as $11.80 and last traded at $11.56, with a volume of 7797492 shares changing hands. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACHR. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. 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. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Archer Aviation Stock Performance

The firm has a market capitalization of $4.74 billion, a PE ratio of -8.45 and a beta of 3.15. 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’s fifty day simple moving average is $7.25 and its 200 day simple moving average is $4.92.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. This trade represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Large investors have recently modified their holdings of the business. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation in the third quarter worth approximately $26,000. Versant Capital Management Inc grew its stake in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after buying an additional 3,430 shares in the last quarter. Hollencrest Capital Management increased its holdings in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the last quarter. Code Waechter LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at $30,000. Finally, Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation during the 3rd quarter worth $31,000. 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.