Archer Aviation (NYSE:ACHR) Trading Up 6.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares shot up 6.5% on Thursday . The stock traded as high as $9.15 and last traded at $9.02. 53,407,864 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 50,081,023 shares. The stock had previously closed at $8.47.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. The Goldman Sachs Group initiated coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Trading Up 6.5%

The stock’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $9.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The firm has a market cap of $5.88 billion, a PE ratio of -7.16 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the sale, the insider directly owned 334,632 shares in the company, valued at approximately $2,506,393.68. The trade was a 11.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 307,635 shares of company stock valued at $2,367,936. 7.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 45.8% during the 3rd quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after buying an additional 16,452,398 shares during the last quarter. Man Group plc lifted its holdings in Archer Aviation by 13,793.3% in the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after acquiring an additional 4,182,400 shares during the period. Geode Capital Management LLC boosted its position in Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock worth $130,125,000 after purchasing an additional 3,671,753 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Archer Aviation by 435.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company’s stock worth $40,688,000 after purchasing an additional 3,050,000 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Archer Aviation by 466.5% during the 2nd quarter. Invesco Ltd. now owns 3,650,429 shares of the company’s stock worth $39,607,000 after purchasing an additional 3,006,039 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.