Archer Aviation (NYSE:ACHR) Trading Up 0.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 0.3% during trading on Tuesday . The company traded as high as $8.98 and last traded at $8.90. 12,747,716 shares changed hands during trading, an increase of 6% from the average session volume of 11,990,922 shares. The stock had previously closed at $8.87.

Analyst Ratings Changes

Several research firms have weighed in on ACHR. Needham & Company LLC assumed coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Stock Down 5.9 %

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 stock has a market cap of $3.58 billion, a price-to-earnings ratio of -6.38 and a beta of 3.19. The firm’s 50-day moving average is $5.24 and its 200 day moving average is $4.22.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data 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 period last year, the business posted ($0.19) earnings per share. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,621,386 shares worth $9,686,577. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its stake in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after purchasing an additional 3,339 shares during the period. Sanctuary Advisors LLC purchased a new stake in Archer Aviation during the 3rd quarter worth $80,000. Barclays PLC lifted its holdings 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. Geode Capital Management LLC boosted its position in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Archer Aviation during the third quarter valued at about $583,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.