Archer Aviation (NYSE:ACHR) Shares Up 1.4% – Still a Buy?

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) shot up 1.4% on Tuesday . The company traded as high as $4.86 and last traded at $4.7450. 33,180,700 shares changed hands during trading, a decline of 14% from the average daily volume of 38,536,773 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Five equities 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.83.

View Our Latest Report on ACHR

Archer Aviation Stock Up 1.2%

The firm has a market capitalization of $3.78 billion, a PE ratio of -4.52 and a beta of 3.19. The business’s fifty day moving average price is $5.85 and its 200 day moving average price is $6.63. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHRGet Free Report) last issued its quarterly earnings results 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 company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in ACHR. Gould Capital LLC raised its stake in shares of Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in shares of Archer Aviation in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares during the period. Modus Advisors LLC acquired a new position in Archer Aviation during the fourth quarter worth $29,000. Finally, Basepoint Wealth LLC purchased a new position in Archer Aviation in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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.

Further Reading

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