Archer Aviation (NYSE:ACHR) Trading Up 1.9% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price shot up 1.9% during trading on Tuesday . The company traded as high as $7.28 and last traded at $7.28. 4,035,597 shares were traded during trading, a decline of 80% from the average session volume of 20,524,729 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Monday, April 21st. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a 50-day moving average of $7.73 and a 200-day moving average of $7.47. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -6.51 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the sale, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This represents a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 49,273 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now directly owns 232,396 shares of the company's stock, valued at $1,789,449.20. This represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,780 shares of company stock worth $3,158,081 in the last three months. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in Archer Aviation by 39.8% during the first quarter. Amalgamated Bank now owns 11,132 shares of the company's stock worth $79,000 after buying an additional 3,171 shares in the last quarter. KBC Group NV bought a new position in shares of Archer Aviation in the first quarter worth $136,000. Clay Northam Wealth Management LLC acquired a new position in Archer Aviation in the first quarter valued at about $116,000. Western Wealth Management LLC bought a new stake in Archer Aviation during the first quarter worth about $82,000. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in Archer Aviation during the first quarter worth about $86,000. Institutional investors own 59.34% of the company's stock.

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.