Archer Aviation (NYSE:ACHR) Trading Up 3.9% - Still a Buy?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price rose 3.9% during mid-day trading on Tuesday . The company traded as high as $11.43 and last traded at $11.01. Approximately 14,806,138 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 23,239,218 shares. The stock had previously closed at $10.59.

Wall Street Analyst Weigh In

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

Archer Aviation Trading Down 0.4%

The firm has a market capitalization of $5.99 billion, a PE ratio of -8.10 and a beta of 3.13. 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 firm's 50-day simple moving average is $8.61 and its 200-day simple moving average is $8.53.

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

Insider Buying and Selling at Archer Aviation

In other news, General Counsel Eric Lentell sold 43,230 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the sale, the general counsel now owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This trade represents a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 705,844 shares of company stock worth $6,583,103 over the last quarter. Insiders own 7.65% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Archer Aviation during the 1st quarter worth approximately $27,000. Intech Investment Management LLC grew its stake in shares of Archer Aviation by 89.4% in the first quarter. Intech Investment Management LLC now owns 196,100 shares of the company's stock valued at $1,394,000 after buying an additional 92,553 shares in the last quarter. Focus Partners Wealth increased its position in shares of Archer Aviation by 6.0% in the 1st quarter. Focus Partners Wealth now owns 38,284 shares of the company's stock worth $271,000 after purchasing an additional 2,179 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in Archer Aviation during the first quarter valued at approximately $92,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company's stock worth $6,001,000 after purchasing an additional 285,414 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.