Archer Aviation (NYSE:ACHR) Trading Up 4.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price rose 4.3% during trading on Wednesday . The stock traded as high as $5.07 and last traded at $4.9350. Approximately 41,721,000 shares were traded during mid-day trading, an increase of 8% from the average session volume of 38,566,965 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group decreased their price objective 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. Finally, Needham & Company LLC lowered their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Stock Performance

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $5.87 and its 200 day moving average is $6.65. The company has a market cap of $3.75 billion, a PE ratio of -4.49 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the sale, the chief financial officer owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This trade represents a 4.96% 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 90 days, insiders sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seven Grand Managers LLC acquired a new stake in Archer Aviation in the 4th quarter valued at about $22,560,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Archer Aviation by 21.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after purchasing an additional 1,407,775 shares in the last quarter. Norges Bank acquired a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $58,494,000. Vanguard Group Inc. lifted its position in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after buying an additional 2,312,899 shares in the last quarter. Finally, Generali Powszechne Towarzystwo Emerytalne purchased a new position in Archer Aviation during the fourth quarter worth approximately $7,520,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.