Archer Aviation (NYSE:ACHR) Shares Up 1.5% - Should You Buy?

Key Points

• The stock of Archer Aviation (NYSE:ACHR) rose by 1.5% to $12.65, with over 50 million shares traded during mid-day, significantly above its average volume.
• Analysts have mixed views on Archer Aviation, with seven firms issuing a "buy" rating and a consensus target price of $13.43, while one firm has assigned a "sell" rating.
• Insider trading activity includes a 6.09% decrease in ownership from CTO Thomas Paul Muniz and a 6.50% drop from CFO Priya Gupta, indicating potential caution among company executives.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded up 1.5% during mid-day trading on Thursday . The stock traded as high as $12.69 and last traded at $12.65. 50,258,476 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 34,935,535 shares. The stock had previously closed at $12.46.

Analysts Set New Price Targets

Several research firms have commented on ACHR. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.43.

Archer Aviation Trading Up 1.5%

The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.16 billion, a PE ratio of -9.37 and a beta of 3.06. The business has a 50 day simple moving average of $9.69 and a two-hundred day simple moving average of $9.63.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). On average, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Priya Gupta sold 10,224 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the transaction, the chief financial officer owned 147,153 shares of the company's stock, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. ARK Investment Management LLC raised its position in Archer Aviation by 8.3% in the second quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company's stock worth $321,003,000 after purchasing an additional 2,270,471 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Archer Aviation by 19.7% during the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after purchasing an additional 3,249,106 shares during the period. Geode Capital Management LLC grew its position in shares of Archer Aviation by 44.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company's stock worth $130,125,000 after buying an additional 3,671,753 shares during the period. Alpine Global Management LLC grew its position in shares of Archer Aviation by 16.7% during the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company's stock worth $30,583,000 after buying an additional 615,481 shares during the period. Finally, Man Group plc grew its position in shares of Archer Aviation by 13,793.3% during the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company's stock worth $45,708,000 after buying an additional 4,182,400 shares during the period. 59.34% of the stock is currently 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.

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