Archer Aviation (NYSE:ACHR) Stock Price Up 2.2% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 2.2% during trading on Tuesday . The company traded as high as $6.77 and last traded at $6.50. Approximately 74,952,776 shares changed hands during trading, an increase of 106% from the average daily volume of 36,423,930 shares. The stock had previously closed at $6.36.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Needham & Company LLC dropped their target price 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Stock Performance

The company’s 50-day moving average price is $5.88 and its 200 day moving average price is $7.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The stock has a market capitalization of $5.20 billion, a PE ratio of -6.22 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. On average, equities research analysts expect that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This represents a 25.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 502,739 shares of company stock worth $3,124,236. 7.65% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the company. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the 3rd quarter valued at about $29,000. Bank of Jackson Hole Trust increased its stake in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares in the last quarter. Center for Financial Planning Inc. increased its stake in Archer Aviation by 138.8% during the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after purchasing an additional 2,040 shares in the last quarter. Finally, Gould Capital LLC increased its stake in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after purchasing an additional 2,507 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.