Archer Aviation (NYSE:ACHR) Stock Price Up 1.5% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 1.5% during mid-day trading on Wednesday . The company traded as high as $5.69 and last traded at $5.6450. Approximately 14,969,518 shares traded hands during trading, a decline of 60% from the average session volume of 37,663,875 shares. The stock had previously closed at $5.56.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. HC Wainwright restated a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Archer Aviation Trading Up 2.1%

The firm has a market cap of $4.44 billion, a PE ratio of -5.34 and a beta of 3.23. The firm has a 50 day moving average of $5.39 and a 200 day moving average of $5.81. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $1.94 million. Equities analysts anticipate that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Activity

In related news, CAO Harsh Rungta sold 13,880 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the completion of the transaction, the chief accounting officer directly owned 110,847 shares in the company, valued at $710,529.27. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the completion of the sale, the chief financial officer directly owned 202,784 shares in the company, valued at approximately $1,299,845.44. The trade was a 4.71% decrease in their position. 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. Insiders sold 180,411 shares of company stock worth $1,141,141 in the last three months. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in Archer Aviation during the first quarter valued at about $293,000. Integrated Wealth Concepts LLC increased its position in shares of Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Archer Aviation by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after buying an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Archer Aviation by 51.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after acquiring an additional 285,414 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.