Archer Aviation (NYSE:ACHR) Shares Up 1.5% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price was up 1.5% during trading on Wednesday . The company traded as high as $7.08 and last traded at $7.07. 5,241,694 shares changed hands during trading, a decline of 73% from the average session volume of 19,497,849 shares. The stock had previously closed at $6.96.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC increased their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $11.61.

Archer Aviation Trading Down 10.7 %

The business's fifty day simple moving average is $8.48 and its two-hundred day simple moving average is $6.97. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -4.69 and a beta of 3.16. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the transaction, the general counsel now owns 45,416 shares in the company, valued at approximately $319,728.64. This represents a 52.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares in the company, valued at $1,849,217.92. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock valued at $3,758,081 over the last quarter. Company insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division boosted its position in Archer Aviation by 60.2% during the first quarter. Moody National Bank Trust Division now owns 168,134 shares of the company's stock worth $1,195,000 after purchasing an additional 63,184 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Archer Aviation in the 4th quarter valued at $15,912,000. California State Teachers Retirement System raised its stake in shares of Archer Aviation by 26.2% during the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock worth $2,354,000 after buying an additional 50,104 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in shares of Archer Aviation during the 4th quarter worth about $450,000. Finally, Infinitum Asset Management LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at $10,844,000. Hedge funds and other 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.