Archer Aviation (NYSE:ACHR) Trading Up 3.4% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 3.4% during trading on Friday . The company traded as high as $6.54 and last traded at $6.4940. Approximately 45,349,123 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 33,775,250 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ACHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Needham & Company LLC decreased their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Performance

The firm has a 50 day moving average price of $5.97 and a 200-day moving average price of $7.49. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.84 billion, a PE ratio of -6.56 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Research analysts expect that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 8,059 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $50,529.93. Following the sale, the insider owned 150,119 shares in the company, valued at $941,246.13. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 10,949 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the completion of the sale, the insider owned 384,768 shares in the company, valued at $2,412,495.36. The trade was a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 255,750 shares of company stock valued at $1,645,333. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in Archer Aviation by 21.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after acquiring an additional 1,407,775 shares in the last quarter. AlphaQuest LLC raised its position in Archer Aviation by 3,207.5% during the third quarter. AlphaQuest LLC now owns 85,202 shares of the company’s stock valued at $816,000 after acquiring an additional 82,626 shares in the last quarter. Vanguard Group Inc. raised its position in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after acquiring an additional 2,312,899 shares in the last quarter. Generali Powszechne Towarzystwo Emerytalne purchased a new position in Archer Aviation during the fourth quarter valued at approximately $7,520,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Archer Aviation during the third quarter valued at approximately $816,000. 59.34% of the stock is currently owned by hedge funds and other 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.