Archer Aviation (NYSE:ACHR) Stock Price Up 7.8% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHRGet Free Report)’s stock price traded up 7.8% during trading on Monday . The stock traded as high as $5.46 and last traded at $5.3660. Approximately 36,866,476 shares were traded during trading, a decline of 4% from the average daily volume of 38,478,430 shares. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACHR shares. Weiss Ratings reiterated 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 note on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Read Our Latest Report on Archer Aviation

Archer Aviation Trading Up 7.8%

The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of -4.88 and a beta of 3.19. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $5.81 and its 200 day moving average is $6.58.

Archer Aviation (NYSE:ACHRGet Free Report) last posted 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 business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Priya Gupta sold 9,860 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the transaction, the chief financial officer owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. The trade was a 25.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last ninety days. 5.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC raised its holdings in shares of Archer Aviation by 22.0% during the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock valued at $119,000 after acquiring an additional 4,144 shares during the period. Parallel Advisors LLC boosted its stake in Archer Aviation by 59.4% in the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock worth $45,000 after purchasing an additional 3,275 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Archer Aviation during the 1st quarter worth approximately $168,000. Bank of America Corp DE grew its position in Archer Aviation by 33.2% during the 1st quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock worth $11,048,000 after purchasing an additional 532,762 shares in the last quarter. Finally, Amundi raised its stake in Archer Aviation by 134.9% during the 1st quarter. Amundi now owns 71,397 shares of the company’s stock valued at $369,000 after purchasing an additional 41,008 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

(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.

See Also

Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.