Archer Aviation (NYSE:ACHR) Trading Up 4.2% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR) shot up 4.2% during mid-day trading on Monday . The stock traded as high as $4.92 and last traded at $4.8350. 30,496,513 shares were traded during mid-day trading, a decline of 19% from the average session volume of 37,619,512 shares. The stock had previously closed at $4.64.

Analyst Ratings Changes

ACHR has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Finally, Barclays upgraded Archer Aviation to a “hold” rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.83.

Archer Aviation Stock Performance

The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -4.71 and a beta of 3.20. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $5.26 and a 200 day moving average of $6.07.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other news, CFO Priya Gupta sold 9,860 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the sale, the chief financial officer owned 189,050 shares in the company, valued at approximately $1,124,847.50. This represents a 4.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. The trade was a 5.91% decrease in their position. 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. Insiders have sold a total of 250,743 shares of company stock worth $1,497,672 in the last ninety days. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACHR. Geneos Wealth Management Inc. boosted its holdings in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares during the period. Gould Capital LLC raised its holdings in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after buying an additional 3,335 shares during the last quarter. Strs Ohio bought a new position in shares of Archer Aviation in the 1st quarter worth about $27,000. Finally, Modus Advisors LLC acquired a new position in shares of Archer Aviation in the 4th quarter valued at about $29,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.