Archer Aviation (NYSE:ACHR) Stock Price Up 12.8% – Should You Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 12.8% during trading on Friday . The company traded as high as $7.37 and last traded at $7.32. 50,394,726 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 44,173,340 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

Several analysts recently issued reports on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group increased their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Stock Up 12.8%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The company has a market cap of $4.77 billion, a P/E ratio of -5.81 and a beta of 3.11. The stock has a 50 day moving average price of $8.14 and a 200 day moving average price of $9.24.

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, hitting analysts’ consensus estimates of ($0.20). Research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling 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 value of $337,184.82. Following the transaction, the insider owned 334,632 shares in the company, valued at approximately $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 307,635 shares of company stock worth $2,367,936. 7.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently modified their holdings of the stock. Clear Creek Financial Management LLC acquired a new stake in shares of Archer Aviation during the second quarter worth approximately $465,000. Vestor Capital LLC boosted its stake in shares of Archer Aviation by 1,014.7% during the 2nd quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock valued at $3,024,000 after buying an additional 253,666 shares during the period. KLP Kapitalforvaltning AS grew its holdings in shares of Archer Aviation by 57.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company’s stock valued at $1,242,000 after acquiring an additional 41,800 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Archer Aviation during the 2nd quarter valued at $2,389,000. Finally, Handelsbanken Fonder AB purchased a new position in Archer Aviation in the second quarter valued at about $1,324,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.