Archer Aviation (NYSE:ACHR) Shares Up 1.3% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 1.3% during trading on Thursday. The company traded as high as $5.12 and last traded at $5.0350. 19,982,798 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 36,167,426 shares. The stock had previously closed at $4.97.

Analyst Ratings Changes

ACHR has been the topic of several recent analyst reports. UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Barclays raised shares of Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Finally, Wells Fargo & Company set a $18.00 price target on Archer Aviation in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Archer Aviation Trading Up 1.3%

The firm has a fifty day moving average of $5.61 and a 200-day moving average of $5.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -4.66 and a beta of 3.23.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $1.94 million. As a group, equities analysts predict that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,015 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, 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. 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, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $6.31, for a total value of $631,000.00. Following the sale, the insider owned 85,011 shares of the company’s stock, valued at $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,657 shares of company stock worth $1,122,371 in the last 90 days. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. WCG Wealth Advisors LLC lifted its position in Archer Aviation by 5.7% in the fourth quarter. WCG Wealth Advisors LLC now owns 33,459 shares of the company’s stock worth $252,000 after purchasing an additional 1,802 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Archer Aviation by 22.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after purchasing an additional 2,447 shares during the period. EMC Capital Management increased its position in shares of Archer Aviation by 22.5% during the 4th quarter. EMC Capital Management now owns 13,600 shares of the company’s stock valued at $102,000 after purchasing an additional 2,500 shares during the period. Gould Capital LLC raised its stake in shares of Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings in shares of Archer Aviation by 48.9% in the fourth quarter. Anchor Investment Management LLC now owns 7,809 shares of the company’s stock valued at $59,000 after buying an additional 2,565 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.