Archer Aviation (NYSE:ACHR) Announces Quarterly Earnings Results

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

Archer Aviation Stock Performance

ACHR traded up $0.40 during trading on Monday, hitting $7.52. 37,597,552 shares of the company traded hands, compared to its average volume of 39,488,926. Archer Aviation has a one year low of $5.48 and a one year high of $14.62. The stock’s fifty day moving average is $7.78 and its 200 day moving average is $8.84. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.90 billion, a P/E ratio of -5.97 and a beta of 3.10.

Analyst Upgrades and Downgrades

ACHR has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. The Goldman Sachs Group initiated coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Canaccord Genuity Group lifted their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $12.17.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Archer Aviation in the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Archer Aviation by 80.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 4,500 shares of the company’s stock worth $34,000 after buying an additional 2,000 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after buying an additional 1,702 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Archer Aviation by 83.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,000 shares of the company’s stock worth $48,000 after buying an additional 2,271 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.