Archer Aviation (NYSE:ACHR) Trading 4.3% Higher - Time to Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price rose 4.3% during trading on Thursday . The stock traded as high as $10.30 and last traded at $9.76. Approximately 22,799,751 shares were traded during trading, a decline of 23% from the average daily volume of 29,686,441 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

ACHR has been the topic of several analyst reports. Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group dropped their price objective on Archer Aviation from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.25.

Archer Aviation Trading Up 8.5 %

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 50-day moving average price of $9.43 and a two-hundred day moving average price of $5.89.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company's stock, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the company. Conquis Financial LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at $29,000. Oarsman Capital Inc. grew its stake in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its stake 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 in the last quarter. Anchor Investment Management LLC grew its stake in 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 purchasing an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after purchasing an additional 2,975 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

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.