Archer Aviation (NYSE:ACHR) Shares Up 6.1% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shot up 6.1% during trading on Thursday . The company traded as high as $4.77 and last traded at $4.7550. Approximately 31,437,557 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 37,721,938 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ACHR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Canaccord Genuity Group decreased their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.83.

Archer Aviation Stock Down 1.9%

The business’s fifty day moving average is $5.32 and its two-hundred day moving average is $6.14. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -4.23 and a beta of 3.19. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the business posted ($0.17) EPS. Equities analysts forecast that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other Archer Aviation news, CFO Priya Gupta sold 9,860 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $58,667.00. Following the completion of the transaction, the chief financial officer owned 189,050 shares in the company, valued at $1,124,847.50. The trade was a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock worth $1,497,672 in the last ninety days. 5.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after purchasing an additional 1,220 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in shares of Archer Aviation by 3.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock valued at $331,000 after buying an additional 1,440 shares during the last quarter. Choreo LLC raised its stake in Archer Aviation by 8.1% during the 4th quarter. Choreo LLC now owns 20,802 shares of the company’s stock worth $157,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.