Archer Aviation (NYSE:ACHR) Shares Up 2.1% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHRGet Free Report) was up 2.1% during trading on Wednesday . The company traded as high as $6.47 and last traded at $6.4550. 26,430,740 shares were traded during mid-day trading, a decline of 31% from the average session volume of 38,424,523 shares. The stock had previously closed at $6.32.

Analyst Upgrades and Downgrades

ACHR has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group lowered their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.50.

Get Our Latest Stock Report on Archer Aviation

Archer Aviation Stock Up 3.8%

The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.87 billion, a PE ratio of -5.85 and a beta of 3.20. The business’s 50-day simple moving average is $5.28 and its 200 day simple moving average is $5.89.

Archer Aviation (NYSE:ACHRGet Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $1.94 million. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 52,762 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $338,204.42. Following the completion of the transaction, the insider owned 185,011 shares of the company’s stock, valued at $1,185,920.51. The trade was a 22.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 10,015 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the completion of the sale, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% 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. Over the last three months, insiders have sold 80,411 shares of company stock valued at $510,141. 5.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nykredit A S purchased a new stake in shares of Archer Aviation in the 2nd quarter valued at $73,000. Solstein Capital LLC acquired a new position in Archer Aviation during the second quarter worth approximately $80,000. White Knight Strategic Wealth Advisors LLC acquired a new stake in shares of Archer Aviation during the second quarter worth about $184,000. Somerville Kurt F acquired a new stake in Archer Aviation in the second quarter valued at about $110,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in shares of Archer Aviation in the second quarter valued at approximately $51,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.

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