Archer Aviation (NYSE:ACHR) Trading 1.2% Higher – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was up 1.2% during trading on Thursday . The company traded as high as $5.19 and last traded at $4.9770. 28,939,046 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 38,490,637 shares. The stock had previously closed at $4.92.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group decreased their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Stock Performance

The stock has a market cap of $3.78 billion, a PE ratio of -4.52 and a beta of 3.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The business has a 50 day moving average price of $5.81 and a two-hundred day moving average price of $6.59.

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

Insider Activity

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $73,863.30. Following the transaction, the chief accounting officer owned 87,210 shares in the company, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the transaction, the chief technology officer directly owned 1,462,314 shares of the company’s stock, valued at approximately $8,700,768.30. This trade represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock worth $1,497,672 in the last quarter. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Gould Capital LLC increased its stake in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the period. Strs Ohio bought a new position in shares of Archer Aviation during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its stake in Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares during the period. Modus Advisors LLC purchased a new stake in Archer Aviation in the fourth quarter worth $29,000. Finally, Basepoint Wealth LLC bought a new stake in Archer Aviation in the fourth quarter valued at $32,000. 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.