Archer Aviation (NYSE:ACHR) Trading Up 2.2% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares were up 2.2% during mid-day trading on Monday . The stock traded as high as $5.96 and last traded at $5.8870. Approximately 26,010,492 shares were traded during trading, a decline of 29% from the average daily volume of 36,731,488 shares. The stock had previously closed at $5.76.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Needham & Company LLC decreased their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group began coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Performance

The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -5.62 and a beta of 3.10. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $7.12 and a 200 day moving average price of $8.50.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The business’s revenue was up 29900.0% on a year-over-year basis. On average, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 8,059 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $50,529.93. Following the sale, the insider directly owned 150,119 shares in the company, valued at $941,246.13. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Harsh Rungta sold 22,826 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the transaction, the chief accounting officer directly owned 65,458 shares of the company’s stock, valued at approximately $422,858.68. This represents a 25.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 380,750 shares of company stock worth $2,645,333. 7.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. J. Derek Lewis & Associates Inc. acquired a new position in Archer Aviation in the fourth quarter valued at approximately $293,000. Fund Advisors of America Inc FL acquired a new stake in Archer Aviation during the fourth quarter worth approximately $178,000. World Investment Advisors raised its holdings in Archer Aviation by 37.7% during the fourth quarter. World Investment Advisors now owns 19,400 shares of the company’s stock worth $146,000 after purchasing an additional 5,309 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Archer Aviation by 20.9% during the fourth quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock worth $327,000 after purchasing an additional 7,515 shares in the last quarter. Finally, EMC Capital Management boosted its holdings in shares of Archer Aviation by 22.5% in the 4th quarter. EMC Capital Management now owns 13,600 shares of the company’s stock valued at $102,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.