Archer Aviation (NYSE:ACHR) Shares Up 1.4% - Time to Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares rose 1.4% during trading on Wednesday . The company traded as high as $8.28 and last traded at $8.22. Approximately 5,024,039 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 18,694,830 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACHR shares. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.

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Archer Aviation Stock Up 2.2 %

The firm has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $6.76. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -6.75 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the sale, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,985 shares of company stock worth $2,555,685. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in Archer Aviation in the 4th quarter valued at about $27,000. Conquis Financial LLC bought a new stake in Archer Aviation in the fourth quarter valued at approximately $29,000. Harbour Investments Inc. lifted its position in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its stake in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares during the last quarter. 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.