Archer Aviation (NYSE:ACHR) Stock Price Up 1.5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shot up 1.5% during trading on Wednesday . The stock traded as high as $7.08 and last traded at $7.07. 5,241,694 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 19,497,849 shares. The stock had previously closed at $6.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACHR shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC lifted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Trading Up 5.7 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.99 billion, a P/E ratio of -5.58 and a beta of 3.14. The firm’s 50-day simple moving average is $8.67 and its 200 day simple moving average is $6.94.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now directly owns 45,416 shares in the company, valued at approximately $319,728.64. The trade was a 52.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the sale, the insider now directly owns 262,673 shares in the company, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 474,780 shares of company stock worth $3,758,081. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Archer Aviation during the 3rd quarter worth about $206,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after purchasing an additional 94,430 shares during the period. Townsquare Capital LLC grew its position in Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares in the last quarter. CreativeOne Wealth LLC increased its stake in Archer Aviation by 99.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock valued at $292,000 after buying an additional 47,975 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Archer Aviation by 15.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock worth $186,000 after buying an additional 8,431 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.