Archer Aviation (NYSE:ACHR) Shares Up 8.2% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 8.2% during mid-day trading on Friday . The company traded as high as $8.16 and last traded at $8.1350. 44,495,741 shares traded hands during trading, an increase of 41% from the average session volume of 31,631,958 shares. The stock had previously closed at $7.52.

Analyst Ratings Changes

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

Archer Aviation Price Performance

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 stock’s 50-day moving average price is $8.41 and its 200 day moving average price is $9.64. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of -6.46 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last issued its quarterly 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). Equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the transaction, the insider directly owned 83,733 shares of the company’s stock, valued at $627,160.17. This trade represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction 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 $2,506,393.68. This trade represents a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 182,635 shares of company stock valued at $1,367,936. Company insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACHR. Strs Ohio bought a new position in Archer Aviation during the first quarter worth about $27,000. AlphaQuest LLC raised its holdings in shares of 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 in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of Archer Aviation during the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust boosted its stake in 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 buying an additional 986 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in 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 during the period. Institutional investors and hedge funds 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.