Archer Aviation (NYSE:ACHR) Trading Up 8.8% – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 8.8% during mid-day trading on Monday . The stock traded as high as $5.62 and last traded at $5.5250. 57,167,694 shares traded hands during mid-day trading, an increase of 50% from the average session volume of 38,206,152 shares. The stock had previously closed at $5.08.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reduced their target price 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. Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The business’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $6.89. The firm has a market capitalization of $4.20 billion, a PE ratio of -5.02 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last announced 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 business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 91,839 shares of the 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 $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. This trade represents a 5.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the 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 $73,863.30. Following the sale, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This trade represents a 12.46% 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 sold 246,989 shares of company stock valued at $1,478,902. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Gould Capital LLC boosted its position in shares of Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares during the last quarter. Strs Ohio bought a new position in shares of Archer Aviation during the 1st quarter valued at 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 valued at $28,000 after acquiring an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of Archer Aviation during the 3rd quarter valued at approximately $29,000. Finally, Modus Advisors LLC bought a new position in shares of Archer Aviation during the 4th quarter valued at approximately $29,000. 59.34% of the stock is 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.