Archer Aviation (NYSE:ACHR) Trading Up 1.9% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR) shares were up 1.9% during mid-day trading on Tuesday . The company traded as high as $7.24 and last traded at $7.1860. Approximately 33,750,600 shares traded hands during trading, a decline of 23% from the average daily volume of 44,020,344 shares. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ACHR shares. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price target for the company. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. dropped their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Stock Performance

The stock’s 50 day moving average price is $8.17 and its two-hundred day moving average price is $9.31. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -5.70 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the transaction, the insider directly owned 83,733 shares of the company’s stock, valued at $627,160.17. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 307,635 shares of company stock worth $2,367,936 over the last quarter. Insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust lifted its holdings in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Archer Aviation by 45.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after buying an additional 1,106 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after buying an additional 1,107 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after acquiring an additional 1,254 shares in the last quarter. 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.