Archer Aviation (NYSE:ACHR) Stock Price Up 1.8% – Time to Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 1.8% during mid-day trading on Wednesday . The company traded as high as $3.44 and last traded at $3.42. 4,561,233 shares were traded during mid-day trading, a decline of 40% from the average session volume of 7,619,871 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

ACHR has been the topic of several recent research reports. Benchmark reiterated 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. upped their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Trading Up 1.9 %

The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.63.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.07. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Insider Activity

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation during the third quarter valued at about $26,000. Code Waechter LLC purchased a new stake in shares of Archer Aviation during the third quarter worth approximately $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the third quarter valued at approximately $31,000. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, CWM LLC raised its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares in the last quarter. Hedge funds and other institutional investors 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.