Archer Aviation (NYSE:ACHR) Shares Up 1.5% – Still a Buy?

by · The Markets Daily

Archer Aviation Inc. (NYSE:ACHR – Get Free Report)’s share price rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $5.69 and last traded at $5.6450. Approximately 14,969,518 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 37,663,875 shares. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company set a $18.00 target price on Archer Aviation in a research report on Tuesday, August 11th. Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

Get Our Latest Research Report on ACHR

Archer Aviation Trading Up 1.5%

The stock’s fifty day simple moving average is $5.36 and its 200-day simple moving average is $5.82. 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 firm has a market cap of $4.35 billion, a PE ratio of -5.23 and a beta of 3.23.

Archer Aviation (NYSE:ACHR – Get Free Report) last released 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 for the quarter, compared to analyst estimates of $1.94 million. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of Archer Aviation stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the sale, the insider directly owned 85,011 shares in the company, valued at approximately $536,419.41. The trade was a 54.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction that occurred on 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 directly owned 202,784 shares in the company, 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 180,411 shares of company stock valued at $1,141,141. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Geneos Wealth Management Inc. lifted its position 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 buying an additional 1,702 shares during the last quarter. Gould Capital LLC increased its position in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $28,000 after acquiring an additional 3,335 shares during the period. Strs Ohio purchased a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $27,000. Finally, Modus Advisors LLC acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.

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