Archer Aviation (NYSE:ACHR) Stock Price Up 8.5% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shot up 8.5% on Monday . The company traded as high as $10.40 and last traded at $10.33. 50,143,838 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 23,369,936 shares. The stock had previously closed at $9.52.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACHR. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Canaccord Genuity Group dropped their target price on Archer Aviation from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and an average target price of $11.25.

Archer Aviation Stock Up 0.8 %

The company has a market capitalization of $4.31 billion, a PE ratio of -7.69 and a beta of 3.13. The firm has a fifty day simple moving average of $9.65 and a 200-day simple moving average of $6.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares of the company's stock, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N.V. Stellantis bought 751,879 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,057,729 shares of company stock worth $8,473,770 in the last 90 days. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. HBK Investments L P acquired a new position in Archer Aviation during the third quarter valued at $6,818,000. Yarbrough Capital LLC acquired a new position in Archer Aviation during the fourth quarter valued at $6,039,000. Benjamin Edwards Inc. raised its position in Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock valued at $322,000 after buying an additional 105,425 shares during the period. Finally, Apollon Wealth Management LLC acquired a new position in Archer Aviation during the fourth quarter valued at $296,000. 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.