Archer Aviation (NYSE:ACHR) Shares Up 3.7% - Time to Buy?

Key Points

• Archer Aviation Inc. shares rose 3.7% to close at $11.31, with a trading volume of over 40 million shares, significantly higher than the average of 36 million.
• Analysts have expressed varied opinions on the stock, with a consensus average rating of "Moderate Buy" and a target price of $13.43, highlighting potential upside.
• Insider trading activity included significant sales, with CFO Priya Gupta selling 10,224 shares, indicating a 6.50% decrease in their position, raising caution among investors.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares shot up 3.7% during mid-day trading on Friday . The company traded as high as $11.48 and last traded at $11.31. 40,097,490 shares were traded during mid-day trading, an increase of 10% from the average session volume of 36,451,934 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

A number of analysts have commented on ACHR shares. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a research report on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.43.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The firm has a market cap of $7.30 billion, a P/E ratio of -8.38 and a beta of 3.06. The company has a 50-day moving average of $10.08 and a 200 day moving average of $9.95.

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

Insider Buying and Selling

In related news, CFO Priya Gupta sold 10,224 shares of the firm's stock in a transaction on 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 sale, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Lentell sold 48,936 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider directly owned 47,518 shares of the company's stock, valued at $467,101.94. This represents a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,068 shares of company stock worth $1,848,708 over the last 90 days. Corporate insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after purchasing an additional 1,106 shares in the last quarter. Moody National Bank Trust Division increased its holdings in Archer Aviation by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after purchasing an additional 1,211 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in Archer Aviation by 23.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company's stock valued at $72,000 after purchasing an additional 1,269 shares in the last quarter. Purus Wealth Management LLC increased its holdings in Archer Aviation by 9.9% during the 2nd quarter. Purus Wealth Management LLC now owns 14,865 shares of the company's stock valued at $161,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Archer Aviation by 8.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after purchasing an additional 1,358 shares in the last quarter. 59.34% of the stock is 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.

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