Archer Aviation (NYSE:ACHR) Trading Up 1.9% - Should You Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares rose 1.9% on Tuesday . The company traded as high as $7.28 and last traded at $7.28. Approximately 4,035,597 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 20,524,729 shares. The stock had previously closed at $7.14.

Analysts Set New Price Targets

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

Archer Aviation Stock Down 3.2 %

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of -6.31 and a beta of 3.16. The firm has a 50 day moving average price of $7.73 and a 200-day moving average price of $7.50.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 49,273 shares of the business'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 value of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,780 shares of company stock worth $3,158,081 over the last 90 days. Company insiders own 9.75% of the company's stock.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC raised its stake in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. grew its holdings in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Anchor Investment Management LLC raised its stake in Archer Aviation by 58.3% during the 4th 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 in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Archer Aviation by 4.7% during the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares during the period. Finally, Xponance Inc. lifted its holdings in Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after purchasing an additional 1,299 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.