Archer Aviation (NYSE:ACHR) Trading 1.8% Higher - Still a Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price shot up 1.8% on Friday . The stock traded as high as $9.40 and last traded at $9.26. 8,338,325 shares were traded during mid-day trading, a decline of 75% from the average session volume of 32,722,143 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

Several research analysts have commented on ACHR shares. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.38.

Archer Aviation Stock Performance

The company's 50-day simple moving average is $8.17 and its 200-day simple moving average is $5.22. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -6.66 and a beta of 3.15. 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 issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period last year, the business posted ($0.19) earnings per share. Analysts predict that Archer Aviation Inc. will post -1.33 EPS 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 firm's stock in a transaction that occurred 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 completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. HBK Investments L P bought a new position in shares of Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Sora Investors LLC bought a new position in shares of Archer Aviation in the third quarter valued at approximately $3,429,000. Yarbrough Capital LLC bought a new position in shares of Archer Aviation in the fourth quarter valued at approximately $6,039,000. Stifel Financial Corp lifted its stake in shares of Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after buying an additional 391,092 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after buying an additional 312,440 shares during the period. Institutional investors and hedge funds 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.