Archer Aviation (NYSE:ACHR) Trading 16.4% Higher - Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded up 16.4% during mid-day trading on Tuesday . The company traded as high as $11.05 and last traded at $10.92. 28,716,142 shares traded hands during trading, an increase of 122% from the average session volume of 12,927,041 shares. The stock had previously closed at $9.38.

Analyst Ratings Changes

A number of analysts have recently commented on ACHR shares. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Friday, December 13th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.63.

Archer Aviation Stock Performance

The company has a market capitalization of $4.59 billion, a P/E ratio of -8.18 and a beta of 3.19. The stock's fifty day moving average price is $5.76 and its 200-day moving average price is $4.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data 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 quarter in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Deborah Diaz bought 5,150 shares of the company's stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares of the company's stock, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the company's stock in a transaction dated 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 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 have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACHR. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the third quarter worth approximately $26,000. Code Waechter LLC bought a new stake in Archer Aviation during the third quarter worth $30,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation during the 3rd quarter worth $31,000. Hollencrest Capital Management lifted its position in shares of Archer Aviation by 50.0% during 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 during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in Archer Aviation in the third quarter valued at about $36,000. 59.34% of the stock is owned by institutional investors.

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.