Archer Aviation (NYSE:ACHR) Shares Climb 5% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s stock price was up 5% during mid-day trading on Thursday. The stock traded as high as $4.29 and last traded at $4.2750. Approximately 25,736,997 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 35,727,992 shares. The stock had previously closed at $4.07.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of recent research reports. Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright restated a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Barclays upgraded Archer Aviation from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $4.50 to $8.00 in a research report on Friday, October 9th. Six equities 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Archer Aviation Stock Performance

The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -3.96 and a beta of 3.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. The stock has a 50 day moving average price of $5.57 and a two-hundred day moving average price of $5.55.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. On average, analysts predict that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the transaction, the insider directly owned 85,011 shares in the company, valued at approximately $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 176,657 shares of company stock worth $1,122,371. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in Archer Aviation by 979.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock valued at $32,000 after buying an additional 3,888 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Archer Aviation by 189.3% during the third quarter. GAMMA Investing LLC now owns 6,272 shares of the company’s stock worth $31,000 after acquiring an additional 4,104 shares during the last quarter. Anchor Investment Management LLC raised its holdings in Archer Aviation by 48.9% during the 4th quarter. Anchor Investment Management LLC now owns 7,809 shares of the company’s stock worth $59,000 after purchasing an additional 2,565 shares during the last quarter. Parallel Advisors LLC lifted its position in Archer Aviation by 59.4% during the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after purchasing an additional 3,275 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Archer Aviation by 157.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock valued at $47,000 after purchasing an additional 5,832 shares during the period. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.