Archer Aviation (NYSE:ACHR) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Archer Aviation (NYSE:ACHR) released its quarterly earnings results on Monday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03), FiscalAI reports. The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million.

Archer Aviation Stock Up 0.6%

ACHR traded up $0.04 during trading hours on Monday, hitting $6.52. 67,066,136 shares of the company’s stock were exchanged, compared to its average volume of 34,130,941. Archer Aviation has a 1-year low of $4.80 and a 1-year high of $14.62. The stock’s 50-day moving average is $5.97 and its two-hundred day moving average is $7.49. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -6.58 and a beta of 3.13. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 94,725 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $611,923.50. Following the completion of the transaction, the chief technology officer owned 1,345,430 shares in the company, valued at approximately $8,691,477.80. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Harsh Rungta sold 22,826 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the transaction, the chief accounting officer owned 65,458 shares of the company’s stock, valued at $422,858.68. The trade was a 25.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 255,750 shares of company stock valued at $1,645,333 in the last three months. 7.65% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

A number of large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after acquiring an additional 1,373 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after acquiring an additional 1,738 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Archer Aviation by 9.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 20,917 shares of the company’s stock valued at $157,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in Archer Aviation by 16.8% in the third quarter. Moneta Group Investment Advisors LLC now owns 12,724 shares of the company’s stock valued at $122,000 after acquiring an additional 1,831 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ACHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Needham & Company LLC reduced their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

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.