Archer Aviation (NYSE:ACHR) Trading 3.8% Higher - Should You Buy?

Key Points

• Archer Aviation's stock price increased by 3.8% to $9.74, with about 8.9 million shares traded, a significant drop from its usual volume.
• Analysts maintain a strong outlook for Archer, with seven "buy" ratings and an average target price of $13.43 according to recent reports.
• Insider selling occurred recently, with Eric Lentell and Tosha Perkins selling shares at an average price of $9.83, resulting in significant decreases in their holdings.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was up 3.8% on Friday . The stock traded as high as $9.77 and last traded at $9.74. Approximately 8,982,255 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 32,796,621 shares. The stock had previously closed at $9.38.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ACHR shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The stock has a fifty day moving average of $10.38 and a two-hundred day moving average of $9.40.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tosha Perkins sold 42,775 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the transaction, the insider owned 295,337 shares in the company, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,964 shares of company stock worth $2,865,206. Company insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during the fourth quarter worth about $27,000. Strs Ohio purchased a new stake in shares of Archer Aviation during the first quarter worth about $27,000. Tidemark LLC increased its position in shares of Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. Institutional investors and hedge funds 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.