Archer Aviation (NYSE:ACHR) Trading Up 5% – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR) shot up 5% during trading on Tuesday . The company traded as high as $5.23 and last traded at $5.1850. 33,469,321 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 35,932,383 shares. The stock had previously closed at $4.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACHR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. Finally, Needham & Company LLC reduced their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Stock Performance

The stock’s fifty day simple moving average is $6.83 and its two-hundred day simple moving average is $8.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -5.24 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.40 million. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other Archer Aviation news, CAO Harsh Rungta sold 22,826 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the sale, the chief accounting officer directly owned 65,458 shares in the company, valued at $422,858.68. The trade was a 25.86% 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. Also, insider Tosha Perkins sold 54,786 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the sale, the insider owned 377,022 shares of the company’s stock, valued at approximately $2,435,562.12. This represents a 12.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 380,750 shares of company stock valued at $2,645,333 over the last quarter. 7.65% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust grew its position in shares of Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Archer Aviation by 2.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after acquiring an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Archer Aviation by 7.0% in the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after acquiring an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its stake in Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after acquiring an additional 1,254 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.