Archer Aviation (NYSE:ACHR) Shares Up 1.4% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 1.4% during trading on Tuesday . The stock traded as high as $4.86 and last traded at $4.7450. 33,180,700 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 38,536,773 shares. The stock had previously closed at $4.68.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Needham & Company LLC decreased their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Trading Up 1.4%

The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -4.31 and a beta of 3.14. The business’s 50-day moving average price is $5.90 and its two-hundred day moving average price is $6.68.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Research analysts predict that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Eric Lentell sold 48,169 shares of the 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 represents a 25.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the sale, the chief financial officer directly owned 189,050 shares in the company, valued at approximately $1,124,847.50. This trade represents a 4.96% 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. In the last quarter, insiders have sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. Gould Capital LLC raised its position in shares of Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio bought a new stake in shares of Archer Aviation during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Archer Aviation during the 4th quarter worth approximately $29,000. Finally, Basepoint Wealth LLC bought a new position in Archer Aviation in the fourth quarter valued at approximately $32,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.