Archer Aviation (NYSE:ACHR) Shares Up 1.3% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price shot up 1.3% during trading on Thursday. The company traded as high as $5.12 and last traded at $5.0350. Approximately 19,982,798 shares changed hands during trading, a decline of 45% from the average daily volume of 36,167,426 shares. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACHR. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, UBS Group restated an “overweight” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.50.

Archer Aviation Stock Down 3.3%

The company has a market capitalization of $3.75 billion, a PE ratio of -4.50 and a beta of 3.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21. The stock’s 50 day moving average is $5.61 and its 200 day moving average is $5.62.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). The business had revenue of $5.00 million during the quarter, compared to the consensus estimate of $1.94 million. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CFO Priya Gupta sold 10,015 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the sale, the chief financial officer owned 202,784 shares of the company’s stock, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the sale, the insider directly owned 85,011 shares in the company, valued at $536,419.41. This trade represents a 54.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,657 shares of company stock valued at $1,122,371 over the last three months. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACHR. Gould Capital LLC grew its holdings in shares of 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 in the last quarter. Modus Advisors LLC bought a new position in shares of Archer Aviation in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in Archer Aviation by 979.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock valued at $32,000 after purchasing an additional 3,888 shares in the last quarter. Anchor Investment Management LLC raised its stake in Archer Aviation by 48.9% in the fourth quarter. Anchor Investment Management LLC now owns 7,809 shares of the company’s stock valued at $59,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Archer Aviation by 59.4% during the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after purchasing an additional 3,275 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.