Archer Aviation Inc. (NYSE:ACHR – Get Free Report) shares traded up 14.6% during mid-day trading on Friday. The stock traded as high as $4.45 and last traded at $4.4350. 27,744,755 shares traded hands during trading, a decline of 20% from the average daily volume of 34,562,375 shares. The stock had previously closed at $3.87.
More Archer Aviation News
Here are the key news stories impacting Archer Aviation this week:
- Positive Sentiment: Archer’s planned electric air-taxi business could offer significant long-term growth if its aircraft and operations succeed. A proposed Boeing-related deal could also provide an additional potential revenue stream, though the article presents this as a future opportunity rather than established earnings. Prediction: Buying Archer Aviation Today Could Set You Up for Life
- Neutral Sentiment: Q3 results are due Monday, and options pricing implies an approximately 15% stock swing after the announcement. That signals high volatility, not a clear indication of which direction shares will move. Archer Aviation faces a 15% stock swing before earnings
- Negative Sentiment: Analysts’ loss estimates are widening, and the company’s shares have suffered a steep decline over the past year. These factors underscore the risk that the upcoming report or outlook could disappoint investors. Archer Aviation Q3 Earnings Loom: What Should You Do Now?
- Negative Sentiment: Archer fell in the prior session as rival Joby gained on a revenue beat and improved outlook, highlighting competitive pressure and the importance of demonstrating commercial progress. Joby Gains 4% on Revenue Beat and Raised Outlook; Archer Aviation Falls 5%, EHang Sinks 7%
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Thursday, October 15th. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and an average target price of $11.00.
Archer Aviation Trading Up 14.6%
The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of -4.11 and a beta of 3.59. The company has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $5.75. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $1.94 million. As a group, research analysts forecast that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Archer Aviation news, CAO Harsh Rungta sold 13,880 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $88,970.80. Following the completion of the sale, the chief accounting officer directly owned 110,847 shares of the company’s stock, valued at $710,529.27. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 176,657 shares of company stock valued at $1,122,371. Insiders own 5.55% of the company’s stock.
Institutional Investors Weigh In On Archer Aviation
A number of hedge funds have recently modified their holdings of ACHR. Bank of America Corp DE raised its stake in Archer Aviation by 33.2% during the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock worth $11,048,000 after purchasing an additional 532,762 shares during the period. California State Teachers Retirement System grew its stake in shares of Archer Aviation by 21.0% in the 1st quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock valued at $3,702,000 after buying an additional 124,052 shares during the period. SummitTX Capital L.P. purchased a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $709,000. Fifth Third Bancorp increased its holdings in shares of Archer Aviation by 4,133.1% during the 1st quarter. Fifth Third Bancorp now owns 142,868 shares of the company’s stock worth $739,000 after buying an additional 139,493 shares during the last quarter. Finally, Odyssean LLC increased its holdings in shares of Archer Aviation by 707.0% during the 2nd quarter. Odyssean LLC now owns 260,940 shares of the company’s stock worth $1,234,000 after buying an additional 228,606 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 is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.
The company’s primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.
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