Archer Aviation (NYSE:ACHR) Trading Up 5% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR) shares were up 5% during mid-day trading on Tuesday . The company traded as high as $5.23 and last traded at $5.1850. Approximately 33,469,321 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 35,932,383 shares. The stock had previously closed at $4.94.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC lowered their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Trading Up 3.6%

The company has a market cap of $4.02 billion, a price-to-earnings ratio of -5.43 and a beta of 3.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The business has a 50 day simple moving average of $6.70 and a 200 day simple moving average of $8.36.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. Archer Aviation’s revenue for the quarter was up 29900.0% compared to the same quarter last year. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 9,580 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $60,066.60. Following the completion of the transaction, the chief technology officer directly owned 1,352,208 shares of the company’s stock, valued at approximately $8,478,344.16. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 10,949 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $68,650.23. Following the completion of the transaction, the insider directly owned 384,768 shares of the company’s stock, valued at $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 380,750 shares of company stock valued at $2,645,333 in the last ninety days. Insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

A number of large investors have recently added to or reduced their stakes in ACHR. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the 3rd quarter valued at about $29,000. Bank of Jackson Hole Trust increased its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after buying an additional 1,702 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at approximately $33,000. Finally, Center for Financial Planning Inc. lifted its position in shares of Archer Aviation by 138.8% in the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after buying an additional 2,040 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.