Archer Aviation (NYSE:ACHR) Shares Gap Up – Time to Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.44, but opened at $4.63. Archer Aviation shares last traded at $4.9370, with a volume of 11,618,011 shares trading hands.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Archer Aviation has an average rating of “Hold” and a consensus price target of $11.83.

Archer Aviation Stock Performance

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 market capitalization of $3.99 billion, a price-to-earnings ratio of -4.75 and a beta of 3.19. The firm’s fifty day moving average price is $5.57 and its 200 day moving average price is $6.36.

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. Analysts forecast 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 business’s stock in a transaction 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 sale, the chief technology officer owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 transaction, the chief financial officer directly owned 189,050 shares in the company, valued at approximately $1,124,847.50. The trade was 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. 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.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the company. Gould Capital LLC increased its stake 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 period. Strs Ohio purchased a new position in shares of Archer Aviation in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares during the period. Modus Advisors LLC acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $29,000. Finally, Basepoint Wealth LLC purchased a new stake in Archer Aviation during the 4th quarter worth approximately $32,000. 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.