Archer Aviation (NYSE:ACHR) Trading 9.8% Higher – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 9.8% on Tuesday . The company traded as high as $5.36 and last traded at $5.3150. Approximately 29,188,090 shares were traded during trading, a decline of 22% from the average session volume of 37,562,898 shares. The stock had previously closed at $4.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group decreased 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. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Four 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’s stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of “Hold” and an average target price of $11.83.

Archer Aviation Stock Performance

The firm has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $6.09. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of -4.83 and a beta of 3.20.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data 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 firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CFO Priya Gupta sold 9,860 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer owned 189,050 shares in the company, valued at approximately $1,124,847.50. This represents a 4.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 firm’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 transaction, the chief technology officer directly owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. The trade was a 5.91% 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 90 days, insiders have sold 250,743 shares of company stock worth $1,497,672. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB raised its holdings in shares of Archer Aviation by 41.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 227,400 shares of the company’s stock worth $1,076,000 after buying an additional 66,700 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Archer Aviation by 22.9% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after buying an additional 2,447 shares in the last quarter. Focus Financial Network Inc. grew its position in Archer Aviation by 20.0% in the second quarter. Focus Financial Network Inc. now owns 16,890 shares of the company’s stock valued at $80,000 after acquiring an additional 2,820 shares during the period. CoreCap Advisors LLC grew its position in Archer Aviation by 97.6% in the second quarter. CoreCap Advisors LLC now owns 13,706 shares of the company’s stock valued at $65,000 after acquiring an additional 6,771 shares during the period. Finally, Western Wealth Management LLC raised its stake in Archer Aviation by 22.0% during the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock worth $119,000 after acquiring an additional 4,144 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.