Archer Aviation (NYSE:ACHR) Trading 2% Higher – Should You Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price was up 2% during mid-day trading on Friday . The company traded as high as $5.08 and last traded at $4.8880. 53,241,130 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 38,563,781 shares. The stock had previously closed at $4.79.

Analysts Set New Price Targets

ACHR has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Price Performance

The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.71 billion, a PE ratio of -4.44 and a beta of 3.14. The company has a 50-day moving average of $5.95 and a 200 day moving average of $6.73.

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

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $73,863.30. Following the completion of the sale, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 in the last 90 days. 5.55% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Geneos Wealth Management Inc. boosted its position in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares during the last quarter. Gould Capital LLC increased its position in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Archer Aviation by 840.1% during the fourth 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 during the period. Strs Ohio acquired a new position in Archer Aviation in the 1st quarter valued at about $27,000. Finally, Modus Advisors LLC acquired a new position in Archer Aviation in the 4th quarter valued at about $29,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.