Archer Aviation (NYSE:ACHR) Stock Price Up 4.3% – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACHR. Canaccord Genuity Group lowered their price target 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. Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Trading Up 4.3%

The company has a market cap of $3.75 billion, a PE ratio of -4.49 and a beta of 3.14. The company’s 50 day simple moving average is $5.87 and its two-hundred day simple moving average is $6.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06.

Archer Aviation (NYSE:ACHR) last posted 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 company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 91,839 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 transaction of $546,442.05. Following the transaction, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at approximately $8,700,768.30. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the transaction, the chief financial officer owned 189,050 shares of the company’s stock, valued at $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 250,743 shares of company stock valued at $1,497,672. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares in the last quarter. 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 buying an additional 2,507 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after buying an additional 3,335 shares during the period. Strs Ohio purchased a new position in Archer Aviation in the 1st quarter valued at approximately $27,000. Finally, Modus Advisors LLC acquired a new position in shares of Archer Aviation in the fourth quarter worth $29,000. 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.