Archer Aviation (NYSE:ACHR) Issues Earnings Results, Misses Estimates By $0.09 EPS

Archer Aviation (NYSE:ACHR) issued its quarterly earnings results on Monday. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09), FiscalAI reports. The firm had revenue of $0.30 million during the quarter.

Archer Aviation Stock Up 5.6%

Shares of Archer Aviation stock traded up $0.40 during trading hours on Monday, reaching $7.52. 37,746,727 shares of the company’s stock were exchanged, compared to its average volume of 39,488,926. Archer Aviation has a fifty-two week low of $5.48 and a fifty-two week high of $14.62. The stock has a market cap of $4.90 billion, a P/E ratio of -5.97 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $7.78 and a two-hundred day moving average of $8.84.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds have recently modified their holdings of ACHR. United Bank purchased a new position in Archer Aviation in the 2nd quarter valued at approximately $427,000. Skyview Financial Group LLC purchased a new position in Archer Aviation during the 4th quarter valued at about $91,000. Kovack Advisors Inc. purchased a new position in Archer Aviation during the fourth quarter valued at approximately $88,000. Wedbush Securities Inc. purchased a new position in shares of Archer Aviation during the 4th quarter valued at about $81,000. Finally, Advisory Services Network LLC bought a new stake in Archer Aviation in the 3rd quarter worth approximately $81,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Archer Aviation in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.17.

Archer Aviation Company Profile

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.