Archer Aviation (NYSE:ACHR) Trading Up 6.9% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $4.88 and last traded at $4.8650. Approximately 28,292,316 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 37,803,336 shares. The stock had previously closed at $4.55.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Canaccord Genuity Group decreased their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Trading Down 2.8%

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.53 billion, a P/E ratio of -4.20 and a beta of 3.19. The business’s fifty day simple moving average is $5.65 and its two-hundred day simple moving average is $6.40.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, CAO Harsh Rungta sold 12,414 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $73,863.30. Following the sale, the chief accounting officer directly owned 87,210 shares in the company, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the completion of the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 over the last quarter. 5.55% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Several institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in shares of Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after acquiring an additional 1,220 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in Archer Aviation by 3.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock valued at $331,000 after purchasing an additional 1,440 shares during the last quarter. Choreo LLC raised its position in Archer Aviation by 8.1% in the 4th quarter. Choreo LLC now owns 20,802 shares of the company’s stock valued at $157,000 after purchasing an additional 1,555 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 worth $36,000 after purchasing an additional 1,702 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.