Archer Aviation (NYSE:ACHR) Shares Up 2.8% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 2.8% during trading on Thursday . The company traded as high as $5.84 and last traded at $5.7550. 27,024,589 shares were traded during trading, a decline of 18% from the average session volume of 32,911,754 shares. The stock had previously closed at $5.60.

Analysts Set New Price Targets

A number of research firms have commented on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Needham & Company LLC dropped their price target 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. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Price Performance

The company’s 50 day moving average price is $6.02 and its 200-day moving average price is $7.69. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -5.92 and a beta of 3.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The business’s revenue was up 29900.0% on a year-over-year basis. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Lentell sold 37,390 shares of Archer Aviation stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $241,539.40. Following the transaction, the insider owned 139,483 shares of the company’s stock, valued at $901,060.18. The trade was a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tosha Perkins sold 54,786 shares of Archer Aviation 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 completion of the transaction, the insider directly owned 377,022 shares in the company, valued at $2,435,562.12. This represents a 12.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 255,750 shares of company stock worth $1,645,333. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust raised its holdings 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 valued at $30,000 after acquiring an additional 986 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in shares of Archer Aviation by 2.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after buying an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after buying an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Archer Aviation by 3.6% during the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after buying an additional 1,237 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its holdings in shares of Archer Aviation by 2.9% during the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after buying an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.