Archer Aviation (NYSE:ACHR) Trading Up 1% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price rose 1% during trading on Thursday . The company traded as high as $9.61 and last traded at $8.88. Approximately 12,904,074 shares changed hands during trading, a decline of 62% from the average daily volume of 33,870,820 shares. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Thursday. Finally, Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Down 3.2 %

The stock has a market cap of $3.74 billion, a P/E ratio of -6.66 and a beta of 3.15. The company’s 50 day moving average price is $8.17 and its two-hundred day moving average price is $5.21. 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 earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the firm posted ($0.19) earnings per share. As a group, research analysts expect that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the 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 directly owns 197,355 shares in the company, valued at approximately $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in ACHR. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc raised its holdings in shares of Archer Aviation by 74.3% during the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after purchasing an additional 3,430 shares during the last quarter. Hollencrest Capital Management lifted its position in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the period. Code Waechter LLC purchased a new stake in Archer Aviation in the third quarter valued at $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation during the 3rd quarter worth about $31,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.