Archer Aviation (NYSE:ACHR) Trading Up 2.1% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 2.1% during trading on Wednesday . The company traded as high as $6.32 and last traded at $6.0650. Approximately 26,462,602 shares traded hands during trading, a decline of 21% from the average daily volume of 33,646,637 shares. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ACHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday. Needham & Company LLC dropped their price target 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Stock Up 2.1%

The firm has a market capitalization of $4.52 billion, a P/E ratio of -6.13 and a beta of 3.24. The stock has a fifty day moving average of $6.17 and a 200 day moving average of $7.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. The business’s revenue was up 29900.0% on a year-over-year basis. On average, research analysts anticipate that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 10,949 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $68,650.23. Following the sale, the insider directly owned 384,768 shares in the company, valued at approximately $2,412,495.36. The trade was a 2.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Harsh Rungta sold 22,826 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $147,455.96. Following the completion of the sale, the chief accounting officer owned 65,458 shares in the company, valued at $422,858.68. This represents a 25.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 255,750 shares of company stock worth $1,645,333 in the last ninety days. 7.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust raised its stake in shares of Archer Aviation by 45.9% during 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 during the period. Prime Capital Investment Advisors LLC raised its stake in shares of Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after purchasing an additional 1,107 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after purchasing an additional 1,220 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC raised its stake in shares of Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after purchasing an additional 1,254 shares during the period. 59.34% of the stock is currently owned by institutional investors.

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.