Archer Aviation (NYSE:ACHR) Trading Up 6.1% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 6.1% during mid-day trading on Monday . The stock traded as high as $3.30 and last traded at $3.29. 4,954,140 shares traded hands during trading, a decline of 34% from the average session volume of 7,534,321 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

Several equities analysts recently commented on ACHR shares. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright began coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Stock Down 1.3 %

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.06 and a beta of 2.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The stock has a fifty day moving average of $3.23 and a two-hundred day moving average of $3.63.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.07. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC grew its stake in Archer Aviation by 48.0% during the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after purchasing an additional 9,713 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Archer Aviation by 8.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock valued at $524,000 after acquiring an additional 8,717 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Archer Aviation during the 1st quarter valued at $117,000. Cetera Advisors LLC bought a new position in Archer Aviation during the first quarter worth $80,000. Finally, Blair William & Co. IL acquired a new stake in Archer Aviation in the first quarter worth $266,000. 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.