Archer Aviation (NYSE:ACHR) Trading Up 4.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 4.3% on Friday . The stock traded as high as $8.25 and last traded at $8.16. 31,086,073 shares were traded during trading, a decline of 21% from the average session volume of 39,532,246 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several analysts recently weighed in on ACHR shares. The Goldman Sachs Group assumed coverage on Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Needham & Company LLC cut their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Stock Up 4.3%

The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -6.48 and a beta of 3.10. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $9.27 and its 200 day moving average price is $9.84.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). As a group, research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $678,953.52. Following the completion of the sale, the chief technology officer owned 1,397,129 shares of the company’s stock, valued at $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the completion of the sale, the insider owned 334,632 shares in the company, valued at approximately $2,506,393.68. This represents a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 182,635 shares of company stock valued at $1,367,936. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Archer Aviation during the 1st quarter valued at approximately $27,000. AlphaQuest LLC boosted its holdings in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Archer Aviation during the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust raised its holdings in shares of Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after acquiring an additional 2,024 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 (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.