Archer Aviation (NYSE:ACHR) Shares Up 1.6% - Time to Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was up 1.6% during trading on Friday . The stock traded as high as $8.87 and last traded at $8.70. Approximately 7,943,525 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 20,746,914 shares. The stock had previously closed at $8.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ACHR shares. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the company 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 increased their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Monday, April 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

Archer Aviation Stock Up 5.3 %

The stock has a market capitalization of $4.87 billion, a P/E ratio of -6.80 and a beta of 3.16. The stock's fifty day moving average is $7.70 and its two-hundred day moving average is $7.54. 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 99,224 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This represents a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99 % 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 valued at $3,158,081. 9.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter valued at $27,000. Conquis Financial LLC purchased a new stake in shares of Archer Aviation during the fourth quarter worth $29,000. Harbour Investments Inc. boosted its position in Archer Aviation by 54.7% during the fourth 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. Oarsman Capital Inc. grew its stake 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 in the last quarter. Finally, Anchor Investment Management LLC increased its position in Archer Aviation by 58.3% in 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 last quarter. Hedge funds and other institutional investors 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.