Archer Aviation (NYSE:ACHR) Stock Price Up 1.6% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 1.6% during mid-day trading on Monday . The company traded as high as $6.21 and last traded at $6.1250. 34,207,443 shares changed hands during trading, a decline of 9% from the average session volume of 37,628,859 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. Needham & Company LLC reduced their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Trading Down 4.2%

The stock has a market cap of $3.92 billion, a P/E ratio of -6.09 and a beta of 3.10. 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 stock’s fifty day moving average is $7.41 and its 200 day moving average is $8.59.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. The company’s quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CAO Harsh Rungta sold 22,826 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer 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 legal filing with the SEC, which is available at this link. Also, insider Eric Lentell sold 8,059 shares of the business’s stock in a transaction 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 transaction, the insider owned 150,119 shares in the company, valued at $941,246.13. This trade represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 380,750 shares of company stock worth $2,645,333 in the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently made changes to their positions in ACHR. Vanguard Group Inc. raised its position in Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the period. ARK Investment Management LLC lifted its stake in Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. State Street Corp boosted its position in shares of Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after buying an additional 3,293,130 shares during the period. Morgan Stanley boosted its position in shares of Archer Aviation by 21.6% during the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Archer Aviation by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after buying an additional 1,867,648 shares during the last quarter. 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.