Archer Aviation (NYSE:ACHR) Stock Price Up 3.8% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) was up 3.8% during mid-day trading on Thursday . The stock traded as high as $7.27 and last traded at $7.2350. Approximately 36,967,774 shares changed hands during trading, a decline of 9% from the average daily volume of 40,705,980 shares. The stock had previously closed at $6.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Wednesday, January 14th. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Stock Performance

The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -5.74 and a beta of 3.11. The stock’s fifty day moving average is $7.91 and its two-hundred day moving average is $8.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Jackson Hole Trust lifted its position in shares of Archer Aviation by 45.9% in the 3rd 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 in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after acquiring an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after acquiring an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC lifted its position in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after purchasing an additional 1,254 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.