Archer Aviation (NYSE:ACHR) Stock Price Up 4.3% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) was up 4.3% on Thursday . The stock traded as high as $10.30 and last traded at $9.76. Approximately 22,799,751 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 29,686,441 shares. The stock had previously closed at $9.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ACHR shares. Cantor Fitzgerald upped their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.25.

Archer Aviation Trading Up 8.5 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business has a fifty day simple moving average of $9.43 and a 200 day simple moving average of $5.88. The company has a market cap of $4.39 billion, a P/E ratio of -7.82 and a beta of 3.13.

Insider Transactions at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the company. ARK Investment Management LLC boosted its stake in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after acquiring an additional 724,736 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Archer Aviation during the 4th quarter worth $42,709,000. Finally, Ghisallo Capital Management LLC boosted its position in shares of Archer Aviation by 170.7% in the fourth quarter. Ghisallo Capital Management LLC now owns 2,706,760 shares of the company’s stock worth $26,391,000 after buying an additional 1,706,760 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.