Archer Aviation (NYSE:ACHR) Shares Up 7.1% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded up 7.1% during mid-day trading on Wednesday . The company traded as high as $6.09 and last traded at $6.0750. 26,036,808 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 34,187,785 shares. The stock had previously closed at $5.67.

Analysts Set New Price Targets

Several research firms have recently commented on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Needham & Company LLC cut their price objective on 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 issued a Sell rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Up 7.1%

The business has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $8.10. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.52 billion, a PE ratio of -6.14 and a beta of 3.24.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (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. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling

In related news, CAO Harsh Rungta sold 22,826 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the sale, the chief accounting officer directly owned 65,458 shares in the company, valued at approximately $422,858.68. This represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Priya Gupta sold 7,263 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $45,539.01. Following the completion of the sale, the chief financial officer directly owned 178,512 shares in the company, valued at approximately $1,119,270.24. This trade represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 255,750 shares of company stock worth $1,645,333 over the last ninety days. Company insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $29,000. Bank of Jackson Hole Trust raised its holdings in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Archer Aviation by 105.3% during the 2nd 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 last quarter. Sound Income Strategies LLC acquired a new position in shares of Archer Aviation during the third quarter worth $33,000. Finally, Center for Financial Planning Inc. grew its stake in shares of Archer Aviation by 138.8% during the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock worth $34,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors and hedge funds 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.