Archer Aviation (NYSE:ACHR) Shares Gap Up – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $10.80, but opened at $11.12. Archer Aviation shares last traded at $10.79, with a volume of 13,042,054 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on ACHR. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Stock Down 1.3 %

The stock has a market cap of $4.75 billion, a PE ratio of -8.47 and a beta of 3.19. The business has a 50 day moving average price of $6.07 and a 200 day moving average price of $4.49. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the business posted ($0.19) EPS. Equities research analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management increased its holdings in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Townsquare Capital LLC grew its holdings in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after acquiring an additional 3,341 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Archer Aviation by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock valued at $115,000 after acquiring an additional 4,505 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.