Archer Aviation (ACHR) Scheduled to Post Quarterly Earnings on Thursday

Archer Aviation (NYSE:ACHR) will be posting its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Archer Aviation to post earnings of ($0.29) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). On average, analysts expect Archer Aviation to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Archer Aviation Price Performance

ACHR stock opened at $3.96 on Tuesday. Archer Aviation has a 52 week low of $1.91 and a 52 week high of $7.49. The business has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $5.15. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.23 billion, a PE ratio of -2.29 and a beta of 2.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ACHR. JPMorgan Chase & Co. cut their price target on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Buy” and a consensus price target of $9.00.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 800,000 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $4.60 per share, for a total transaction of $3,680,000.00. Following the completion of the acquisition, the insider now owns 35,451,720 shares of the company’s stock, valued at $163,077,912. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 3,150,000 shares of company stock worth $15,724,500 over the last quarter. Corporate 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.