Archer Aviation (NYSE:ACHR) Trading Up 4.2% – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) rose 4.2% on Monday . The stock traded as high as $6.54 and last traded at $6.5250. Approximately 29,368,288 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 38,838,688 shares. The stock had previously closed at $6.26.

Archer Aviation News Summary

Here are the key news stories impacting Archer Aviation this week:

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Check Out Our Latest Stock Report on ACHR

Archer Aviation Price Performance

The business has a 50-day moving average price of $7.64 and a two-hundred day moving average price of $8.74. 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 company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -6.59 and a beta of 3.10.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. Archer Aviation’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Jackson Hole Trust lifted its position in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after buying an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after acquiring an additional 1,107 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after acquiring an additional 1,220 shares during the period. HighPoint Advisor Group LLC lifted its holdings in Archer Aviation by 3.6% during the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its position in Archer Aviation by 2.9% during the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after purchasing an additional 1,254 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Company Profile

(Get Free Report)

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.

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