Archer Aviation (NYSE:ACHR) Shares Up 3.9% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 3.9% on Monday . The company traded as high as $7.47 and last traded at $7.46. 33,840,255 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 39,659,754 shares. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACHR shares. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Needham & Company LLC reduced their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.71.

Archer Aviation Trading Up 3.9%

The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -5.92 and a beta of 3.07. The business’s fifty day moving average is $10.12 and its 200 day moving average is $10.19. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $678,953.52. Following the sale, the chief technology officer directly owned 1,397,129 shares in the company, valued at $10,464,496.21. This trade represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the sale, the insider directly owned 334,632 shares in the company, valued at approximately $2,506,393.68. This represents a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 182,635 shares of company stock valued at $1,367,936 in the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its stake in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. GAMMA Investing LLC boosted its position in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after purchasing an additional 2,024 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation in the third quarter valued at approximately $29,000. Bank of Jackson Hole Trust grew its stake in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares during the last quarter. 59.34% of the stock is currently 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.