Archer Aviation (NYSE:ACHR) Trading 2.1% Higher – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 2.1% during trading on Wednesday . The stock traded as high as $6.32 and last traded at $6.0650. 26,462,602 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 33,646,637 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC lowered their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Trading Down 1.3%

The firm has a market cap of $4.24 billion, a P/E ratio of -5.75 and a beta of 3.24. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $7.93.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.40 million. The business’s revenue for the quarter was up 29900.0% on a year-over-year basis. As a group, analysts expect that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 10,949 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $68,650.23. Following the sale, the insider owned 384,768 shares of the company’s stock, valued at $2,412,495.36. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Lentell sold 8,059 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $50,529.93. Following the completion of the sale, the insider directly owned 150,119 shares in the company, valued at approximately $941,246.13. This trade represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 255,750 shares of company stock valued at $1,645,333. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Jackson Hole Trust raised its position in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of 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 purchasing an additional 1,107 shares during the period. Farther Finance Advisors LLC raised its position in shares of 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 purchasing an additional 1,220 shares during the period. HighPoint Advisor Group LLC raised its position in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after purchasing an additional 1,254 shares during the period. 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.