Archer Aviation (NYSE:ACHR) Shares Up 3.4% – Should You Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 3.4% on Monday . The stock traded as high as $5.90 and last traded at $5.7310. 39,163,608 shares changed hands during trading, an increase of 3% from the average session volume of 37,904,336 shares. The stock had previously closed at $5.54.

Analyst Ratings Changes

Several research firms have recently weighed in on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Needham & Company LLC cut their price target on 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The company has a market cap of $3.84 billion, a P/E ratio of -4.60 and a beta of 3.14. The firm has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $6.94.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter last year, the business earned ($0.17) earnings per share. On average, analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, insider Tosha Perkins sold 10,949 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the sale, the insider owned 384,768 shares of the company’s stock, valued at approximately $2,412,495.36. This represents a 2.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Priya Gupta sold 9,860 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the sale, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. This trade represents a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 282,840 shares of company stock worth $1,703,688 in the last three months. 7.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in ACHR. Gould Capital LLC lifted its holdings in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in Archer Aviation during the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after purchasing an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Archer Aviation during the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC purchased a new stake in shares of Archer Aviation in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors 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.