Archer Aviation (NYSE:ACHR) Stock Price Up 4.3% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 4.3% on Wednesday . The stock traded as high as $5.07 and last traded at $4.9350. 41,721,000 shares were traded during trading, an increase of 8% from the average daily volume of 38,566,965 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Stock Down 0.1%

The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -4.52 and a beta of 3.19. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $5.83 and a 200-day moving average of $6.60.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares in the company, valued at $839,449.80. This trade represents a 25.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $73,863.30. Following the transaction, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. 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 250,743 shares of company stock worth $1,497,672 over the last ninety days. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in ACHR. Farther Finance Advisors LLC raised its holdings in Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after buying an additional 1,220 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its stake in Archer Aviation by 8.2% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock valued at $160,000 after buying an additional 1,268 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the period. Meridian Investment Counsel Inc. boosted its holdings in shares of Archer Aviation by 3.4% in the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock worth $331,000 after buying an additional 1,440 shares during the period. Finally, Choreo LLC increased its position in shares of Archer Aviation by 8.1% in the fourth quarter. Choreo LLC now owns 20,802 shares of the company’s stock worth $157,000 after acquiring an additional 1,555 shares in the last quarter. 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.