Archer Aviation (NYSE:ACHR) Trading Up 1% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) rose 1% on Tuesday . The company traded as high as $6.90 and last traded at $6.84. Approximately 29,410,187 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 41,325,438 shares. The stock had previously closed at $6.77.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group started coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Wednesday, January 14th. Six 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Trading Up 3.8%

The company has a 50 day moving average of $7.88 and a 200 day moving average of $8.98. 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 stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -5.74 and a beta of 3.11.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.65% 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 business. Connective Capital Management LLC grew its position in shares of Archer Aviation by 270.3% in the fourth quarter. Connective Capital Management LLC now owns 135,311 shares of the company’s stock valued at $1,018,000 after purchasing an additional 98,775 shares in the last quarter. Evansbrook LLC purchased a new position in Archer Aviation during the fourth quarter worth approximately $114,000. Axxcess Wealth Management LLC boosted its stake in Archer Aviation by 9.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,917 shares of the company’s stock worth $157,000 after buying an additional 1,776 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Archer Aviation by 20.9% in the 4th quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock valued at $327,000 after buying an additional 7,515 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Archer Aviation by 65.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 152,082 shares of the company’s stock valued at $1,144,000 after buying an additional 59,963 shares in the last quarter. 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.