Archer Aviation (NYSE:ACHR) Issues Quarterly Earnings Results

Archer Aviation (NYSE:ACHR) posted its earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03), FiscalAI reports. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million.

Archer Aviation Stock Performance

Archer Aviation stock traded up $0.04 during mid-day trading on Monday, hitting $6.52. 65,321,373 shares of the company’s stock traded hands, compared to its average volume of 34,122,523. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. Archer Aviation has a one year low of $4.80 and a one year high of $14.62. The firm has a 50 day moving average price of $5.97 and a 200 day moving average price of $7.49. The company has a market cap of $4.85 billion, a PE ratio of -6.58 and a beta of 3.13.

Wall Street Analysts Forecast Growth

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

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 54,786 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $353,917.56. Following the completion of the transaction, the insider owned 377,022 shares in the company, valued at $2,435,562.12. This represents a 12.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Priya Gupta sold 10,172 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $65,711.12. Following the transaction, the chief financial officer directly owned 171,754 shares in the company, valued at approximately $1,109,530.84. The trade was a 5.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 255,750 shares of company stock valued at $1,645,333. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACHR. United Bank bought a new position in Archer Aviation during the 2nd quarter valued at $427,000. Moneta Group Investment Advisors LLC raised its stake in shares of Archer Aviation by 16.8% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 12,724 shares of the company’s stock worth $122,000 after buying an additional 1,831 shares in the last quarter. Pacific Sun Financial Corp acquired a new stake in shares of Archer Aviation in the third quarter valued at $119,000. Regal Investment Advisors LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at $108,000. Finally, Hilltop Holdings Inc. bought a new position in Archer Aviation during the third quarter valued at about $98,000. 59.34% of the stock is currently owned by institutional investors.

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.