Archer Aviation (NYSE:ACHR) Stock Jumps 7.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 7.5% on Tuesday. The company traded as high as $4.32 and last traded at $4.2350. Approximately 28,234,175 shares changed hands during trading, a decline of 20% from the average daily volume of 35,083,629 shares. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACHR. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Barclays raised Archer Aviation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $4.50 to $8.00 in a research note on Friday, October 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Archer Aviation in a research report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Archer Aviation Stock Performance

The firm has a market cap of $3.26 billion, a P/E ratio of -3.92 and a beta of 3.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21. The stock’s 50-day moving average is $5.22 and its 200 day moving average is $5.93.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, research analysts predict that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 13,880 shares of Archer Aviation stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the transaction, the chief accounting officer owned 110,847 shares in the company, valued at $710,529.27. This trade represents a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 176,657 shares of company stock valued at $1,122,371 over the last 90 days. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC raised its holdings in shares of Archer Aviation by 8.2% during the third quarter. Flagship Harbor Advisors LLC now owns 43,357 shares of the company’s stock worth $215,000 after acquiring an additional 3,282 shares during the period. Apollon Wealth Management LLC acquired a new position in Archer Aviation in the 3rd quarter worth $56,000. Vima LLC increased its holdings in Archer Aviation by 203.8% during the 3rd quarter. Vima LLC now owns 6,365 shares of the company’s stock worth $32,000 after purchasing an additional 4,270 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in Archer Aviation by 14.2% during the 3rd quarter. Ascent Wealth Partners LLC now owns 31,758 shares of the company’s stock worth $158,000 after purchasing an additional 3,941 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Archer Aviation by 36.6% in the 3rd quarter. Sterling Capital Management LLC now owns 15,199 shares of the company’s stock valued at $76,000 after purchasing an additional 4,069 shares during the period. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company’s primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.