Archer Aviation (NYSE:ACHR) Trading 6.3% Higher - Still a Buy?

Key Points

• Archer Aviation's stock rose by 6.3% to $12.73, with trading volume up by 67% compared to the average session, indicating strong market interest.
• Analyst ratings are mixed, with a consensus of "Moderate Buy" and a target price of $13.43, while one analyst maintains a sell rating.
• Insider selling has occurred recently, with notable shares sold by CFO Priya Gupta and insider Tosha Perkins, reflecting a decrease in insider ownership.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price traded up 6.3% on Monday . The stock traded as high as $12.85 and last traded at $12.73. 58,562,015 shares changed hands during mid-day trading, an increase of 67% from the average session volume of 35,135,121 shares. The stock had previously closed at $11.97.

Analyst Ratings Changes

A number of research firms have commented on ACHR. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.43.

Archer Aviation Price Performance

The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of -9.43 and a beta of 3.06. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The business's 50 day simple moving average is $9.74 and its 200-day simple moving average is $9.67.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). On average, research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 42,775 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,068 shares of company stock valued at $1,848,708. Corporate insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. GAMMA Investing LLC lifted its holdings in shares of Archer Aviation by 3,582.6% in the first quarter. GAMMA Investing LLC now owns 6,555 shares of the company's stock worth $470,000 after acquiring an additional 6,377 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Archer Aviation by 38.0% in the first quarter. Rhumbline Advisers now owns 430,920 shares of the company's stock worth $3,064,000 after acquiring an additional 118,598 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of Archer Aviation by 57.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company's stock worth $38,000 after acquiring an additional 1,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Archer Aviation in the first quarter worth about $176,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Archer Aviation by 64.2% in the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock worth $581,000 after acquiring an additional 31,933 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

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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