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Archer Aviation (NYSE:ACHR) Stock Price Up 7% - Still a Buy?

Archer Aviation logo with Aerospace background

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares rose 7% during trading on Friday . The company traded as high as $9.06 and last traded at $9.01. Approximately 17,290,308 shares traded hands during trading, an increase of 37% from the average daily volume of 12,576,161 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

ACHR has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus target price of $10.63.

Check Out Our Latest Report on Archer Aviation

Archer Aviation Price Performance

The stock has a market cap of $4.04 billion, a P/E ratio of -7.19 and a beta of 3.19. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business's 50-day simple moving average is $5.35 and its two-hundred day simple moving average is $4.25.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the firm posted ($0.19) EPS. Sell-side analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 4,197,136 shares of the company's stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00. Following the sale, the chief technology officer now directly owns 1,120,360 shares in the company, valued at $10,083,240. This trade represents a 4.27 % decrease in their position. 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 1,621,386 shares worth $9,686,577. Company insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at about $26,000. Code Waechter LLC purchased a new stake in Archer Aviation in the third quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation during the third quarter valued at approximately $31,000. Hollencrest Capital Management grew its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Finally, CWM LLC grew its stake in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after buying an additional 3,559 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

(Get Free Report)

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.

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