Archer Aviation (NYSE:ACHR) Shares Up 11.4% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) shares shot up 11.4% during trading on Tuesday . The company traded as high as $9.67 and last traded at $9.83. 15,793,469 shares were traded during mid-day trading, a decline of 52% from the average session volume of 32,715,354 shares. The stock had previously closed at $8.82.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACHR shares. Canaccord Genuity Group upped their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business’s 50-day moving average is $8.47 and its two-hundred day moving average is $5.32. The firm has a market cap of $4.19 billion, a P/E ratio of -7.46 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) earnings per share. As a group, analysts predict that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah Diaz bought 5,150 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Barclays PLC raised its position in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the last quarter. HBK Investments L P bought a new stake in shares of Archer Aviation in the 3rd quarter worth $6,818,000. Yarbrough Capital LLC purchased a new stake in shares of Archer Aviation in the fourth quarter valued at about $6,039,000. Benjamin Edwards Inc. lifted its position in shares of Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after purchasing an additional 94,430 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.