Archer Aviation (NYSE:ACHR) Trading 10.4% Higher – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) traded up 10.4% during mid-day trading on Tuesday . The stock traded as high as $11.84 and last traded at $11.43. 39,278,472 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 31,605,545 shares. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group cut their price objective on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $11.25.

Archer Aviation Trading Up 0.8 %

The company has a 50 day simple moving average of $9.65 and a two-hundred day simple moving average of $6.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market cap of $4.31 billion, a PE ratio of -7.69 and a beta of 3.13.

Insider Activity at Archer Aviation

In related news, Director Deborah Diaz acquired 5,150 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares of the company’s stock, valued at $10,083,240. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last 90 days. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Archer Aviation by 74.1% during the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after purchasing an additional 12,278 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in Archer Aviation by 157.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company’s stock worth $176,000 after buying an additional 35,554 shares during the period. Cyndeo Wealth Partners LLC acquired a new stake in Archer Aviation during the 3rd quarter worth approximately $36,000. Narwhal Capital Management purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $40,000. Finally, PFG Investments LLC grew its stake in shares of Archer Aviation by 36.0% in the third quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock worth $59,000 after acquiring an additional 5,200 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.