Archer Aviation (NYSE:ACHR) Stock Price Up 4.2% - Time to Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price rose 4.2% on Friday . The stock traded as high as $9.84 and last traded at $9.76. Approximately 7,107,748 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 23,807,212 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

A number of brokerages have commented on ACHR. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Friday, May 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Archer Aviation Stock Performance

The stock has a market capitalization of $5.58 billion, a PE ratio of -7.70 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business's fifty day moving average price is $8.90 and its 200-day moving average price is $8.79.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.04. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now directly owns 45,416 shares in the company, valued at $319,728.64. This trade represents a 52.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 451,859 shares of company stock valued at $4,627,418 over the last three months. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. bought a new position in Archer Aviation during the fourth quarter valued at approximately $27,000. Conquis Financial LLC bought a new position in Archer Aviation during the fourth quarter valued at approximately $29,000. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. grew 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 acquiring an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its position in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after acquiring an additional 1,224 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.