Archer Aviation (NYSE:ACHR) Trading Up 0.8% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price rose 0.8% on Thursday . The stock traded as high as $7.60 and last traded at $7.11. Approximately 10,172,543 shares were traded during trading, a decline of 50% from the average daily volume of 20,372,058 shares. The stock had previously closed at $7.05.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACHR shares. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Monday. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two research 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, Archer Aviation presently has an average rating of "Moderate Buy" and a consensus price target of $11.61.

Archer Aviation Trading Down 1.2 %

The firm has a market capitalization of $3.87 billion, a PE ratio of -5.41 and a beta of 3.16. The company's fifty day simple moving average is $7.94 and its 200-day simple moving average is $7.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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

Insider Buying and Selling

In related news, insider Tosha Perkins sold 49,273 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Eric Lentell sold 43,230 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,780 shares of company stock worth $3,158,081. 9.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Sunbelt Securities Inc. purchased a new stake in Archer Aviation in the 4th quarter valued at $27,000. Conquis Financial LLC acquired a new stake in Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. raised its position in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. lifted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

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.