Analysts Offer Predictions for Archer Aviation Inc.’s Q3 2024 Earnings (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) – HC Wainwright issued their Q3 2024 earnings per share (EPS) estimates for Archer Aviation in a report issued on Tuesday, September 3rd. HC Wainwright analyst A. Dayal forecasts that the company will post earnings of ($0.37) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $12.50 target price on the stock. The consensus estimate for Archer Aviation’s current full-year earnings is ($1.20) per share. HC Wainwright also issued estimates for Archer Aviation’s Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.58) EPS, FY2025 earnings at ($1.22) EPS, FY2026 earnings at ($0.94) EPS, FY2027 earnings at ($0.46) EPS and FY2028 earnings at ($0.18) EPS.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07.

A number of other equities research analysts also recently weighed in on ACHR. Barclays decreased their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Benchmark reissued a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Trading Down 0.7 %

Archer Aviation stock opened at $3.36 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The business’s 50-day simple moving average is $4.06 and its 200-day simple moving average is $4.06. The firm has a market capitalization of $1.09 billion, a PE ratio of -2.06 and a beta of 2.35. Archer Aviation has a 52 week low of $3.00 and a 52 week high of $7.10.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in shares of Archer Aviation in the second quarter valued at approximately $76,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Archer Aviation in the second quarter valued at approximately $62,000. The Manufacturers Life Insurance Company raised its stake in shares of Archer Aviation by 42.6% in the second quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company’s stock valued at $425,000 after acquiring an additional 36,130 shares during the last quarter. Xponance Inc. bought a new position in shares of Archer Aviation in the second quarter valued at approximately $51,000. Finally, DRW Securities LLC bought a new position in shares of Archer Aviation in the second quarter valued at approximately $68,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 27.17% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.