Archer Aviation (NYSE:ACHR) Trading 9.8% Higher – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 9.8% during trading on Wednesday . The company traded as high as $6.46 and last traded at $6.4150. 54,500,981 shares were traded during trading, an increase of 63% from the average session volume of 33,334,828 shares. The stock had previously closed at $5.84.

Analysts Set New Price Targets

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

Archer Aviation Stock Up 9.8%

The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $5.99 and its 200-day simple moving average is $7.53.

Archer Aviation (NYSE:ACHR) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.40 million. The firm’s revenue was up 29900.0% on a year-over-year basis. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,172 shares of Archer Aviation 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 completion of the transaction, the chief financial officer owned 171,754 shares in the company, valued at approximately $1,109,530.84. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tosha Perkins sold 54,786 shares of Archer Aviation stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the transaction, the insider owned 377,022 shares of the company’s stock, valued at approximately $2,435,562.12. The trade was a 12.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 255,750 shares of company stock valued at $1,645,333 in the last quarter. 7.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of the company. SteelPeak Wealth LLC raised its position in shares of Archer Aviation by 149.2% in the first quarter. SteelPeak Wealth LLC now owns 113,502 shares of the company’s stock valued at $587,000 after buying an additional 67,950 shares during the last quarter. Independent Financial Group LLC purchased a new stake in Archer Aviation during the first quarter worth approximately $81,000. Sanctuary Advisors LLC grew its stake in Archer Aviation by 57.0% during the first quarter. Sanctuary Advisors LLC now owns 107,738 shares of the company’s stock worth $557,000 after buying an additional 39,132 shares during the period. Sigma Planning Corp purchased a new stake in Archer Aviation during the first quarter worth approximately $75,000. Finally, HBW Advisory Services LLC acquired a new stake in Archer Aviation during the 1st quarter valued at $77,000. Institutional investors and hedge funds 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.