Archer Aviation (NYSE:ACHR) Shares Gap Up – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR) gapped up before the market opened on Tuesday . The stock had previously closed at $10.35, but opened at $11.00. Archer Aviation shares last traded at $11.11, with a volume of 24,952,814 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.25.

Archer Aviation Stock Up 0.8 %

The company has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $6.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock has a market cap of $4.31 billion, a PE ratio of -7.69 and a beta of 3.13.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,057,729 shares of company stock worth $8,473,770 over the last quarter. 9.75% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in Archer Aviation during the fourth quarter valued at $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $29,000. Oarsman Capital Inc. increased its position in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. increased its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.