Archer Aviation (NYSE:ACHR) Stock Price Up 4.9% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 4.9% during mid-day trading on Monday . The stock traded as high as $6.89 and last traded at $6.51. 16,375,464 shares traded hands during trading, a decline of 18% from the average session volume of 19,866,601 shares. The stock had previously closed at $6.20.

Analysts Set New Price Targets

A number of equities analysts have commented on ACHR shares. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC lifted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Performance

The stock has a market cap of $3.62 billion, a P/E ratio of -5.05 and a beta of 3.16. 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 stock has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $7.05.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, 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, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 474,780 shares of company stock valued at $3,758,081 in the last ninety days. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new stake in Archer Aviation in the fourth quarter valued at approximately $27,000. Conquis Financial LLC bought a new position in shares of Archer Aviation in the 4th quarter valued at $29,000. Harbour Investments Inc. boosted its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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.