Archer Aviation (NYSE:ACHR) Stock Price Up 0.3% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price rose 0.3% during trading on Tuesday . The stock traded as high as $8.98 and last traded at $8.90. Approximately 12,747,716 shares changed hands during trading, an increase of 6% from the average daily volume of 11,990,922 shares. The stock had previously closed at $8.87.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group raised their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.25.

Archer Aviation Trading Up 2.3 %

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 firm has a market cap of $3.86 billion, a price-to-earnings ratio of -6.87 and a beta of 3.19. The business's 50-day moving average price is $5.00 and its two-hundred day moving average price is $4.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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 last year, the business earned ($0.19) EPS. Equities analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 438,428 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the transaction, the chief technology officer now directly owns 1,170,360 shares of the company's stock, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Spellacy sold 63,000 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $7.10, for a total transaction of $447,300.00. Following the sale, the director now directly owns 191,513 shares of the company's stock, valued at approximately $1,359,742.30. The trade was a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,571,386 shares valued at $9,236,577. Corporate insiders own 9.75% of the company's stock.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC increased its position in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock worth $15,487,000 after purchasing an additional 268,896 shares during the last quarter. HBK Investments L P bought a new stake in Archer Aviation in the third quarter valued at about $6,818,000. Charles Schwab Investment Management Inc. raised its stake in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after buying an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock worth $4,651,000 after buying an additional 254,460 shares during the last quarter. Finally, Sora Investors LLC acquired a new position in Archer Aviation in the third quarter worth $3,429,000. 59.34% of the stock is 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.