Archer Aviation (NYSE:ACHR) Trading 2.6% Higher - Still a Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price traded up 2.6% during mid-day trading on Monday . The stock traded as high as $10.54 and last traded at $10.25. 23,836,145 shares were traded during trading, a decline of 5% from the average session volume of 25,190,903 shares. The stock had previously closed at $9.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Friday, May 16th. Canaccord Genuity Group cut their price objective on shares of Archer Aviation from $13.50 to $13.00 and set a "buy" rating on the stock in a report on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.13.

Archer Aviation Price Performance

The company's fifty day moving average is $9.36 and its 200 day moving average is $8.97. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $5.62 billion, a PE ratio of -7.76 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 80,919 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the transaction, the chief technology officer now owns 1,253,294 shares in the company, valued at approximately $16,280,289.06. This represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 33,335 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the transaction, the insider now owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. This trade represents a 11.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after purchasing an additional 446,864 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock valued at $501,000 after acquiring an additional 36,840 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after acquiring an additional 50,104 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. 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.

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