Archer Aviation (NYSE:ACHR) Trading Up 2.7% – What’s Next?

by · The Markets Daily

Archer Aviation Inc. (NYSE:ACHRGet Free Report) shares rose 2.7% during trading on Monday . The company traded as high as $5.71 and last traded at $5.5650. Approximately 24,761,217 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 35,348,359 shares. The stock had previously closed at $5.42.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ACHR shares. Needham & Company LLC lowered their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Get Our Latest Analysis on Archer Aviation

Archer Aviation Stock Up 2.7%

The firm has a market cap of $4.14 billion, a PE ratio of -5.62 and a beta of 3.24. The stock has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $8.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. Archer Aviation’s revenue was up 29900.0% on a year-over-year basis. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 94,725 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $611,923.50. Following the completion of the transaction, the chief technology officer directly owned 1,345,430 shares in the company, valued at $8,691,477.80. This represents a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the sale, the chief accounting officer owned 65,458 shares in the company, valued at approximately $422,858.68. This represents a 25.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 255,750 shares of company stock worth $1,645,333 in the last quarter. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. boosted its position in Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after buying an additional 2,312,899 shares during the period. ARK Investment Management LLC increased its position in shares of Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares in the last quarter. State Street Corp grew its stake in shares of Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after acquiring an additional 3,293,130 shares during the last quarter. Morgan Stanley increased its position in shares of Archer Aviation by 21.6% in the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after acquiring an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC boosted its position in Archer Aviation by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after buying an additional 1,867,648 shares during the last quarter. Institutional investors 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.

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