Archer Aviation (NYSE:ACHR) Trading Up 3.8% – Here’s What Happened

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) were up 3.8% during trading on Friday . The company traded as high as $6.53 and last traded at $6.32. Approximately 32,711,150 shares were traded during trading, a decline of 15% from the average session volume of 38,343,730 shares. The stock had previously closed at $6.09.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Barclays upgraded shares of Archer Aviation to a “hold” rating in a report on Wednesday, July 29th. HC Wainwright reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Hold” and an average price target of $11.50.

View Our Latest Report on ACHR

Archer Aviation Price Performance

The company has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $5.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. The company has a market cap of $4.87 billion, a PE ratio of -5.85 and a beta of 3.20.

Archer Aviation (NYSE:ACHRGet Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $1.94 million. Sell-side analysts expect that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 52,762 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $338,204.42. Following the completion of the transaction, the insider directly owned 185,011 shares of the company’s stock, valued at $1,185,920.51. This represents a 22.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the sale, the chief financial officer owned 202,784 shares of the company’s stock, valued at $1,299,845.44. This represents a 4.71% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 80,411 shares of company stock valued at $510,141. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently bought and sold shares of ACHR. Geneos Wealth Management Inc. raised its holdings in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares in the last quarter. Gould Capital LLC grew its holdings in 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 acquiring an additional 2,507 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after purchasing an additional 3,335 shares during the last quarter. Strs Ohio bought a new stake in shares of Archer Aviation in the 1st quarter worth about $27,000. Finally, Modus Advisors LLC acquired a new stake in shares of Archer Aviation in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.

Further Reading

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