Archer Aviation (NYSE:ACHR) Shares Up 3.9% – Time to Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 3.9% during trading on Wednesday . The stock traded as high as $5.83 and last traded at $5.55. 28,150,392 shares traded hands during trading, a decline of 20% from the average session volume of 35,198,660 shares. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACHR. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Needham & Company LLC decreased their price target 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. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Trading Up 3.9%

The stock’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $8.24. The firm has a market cap of $4.13 billion, a PE ratio of -5.61 and a beta of 3.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. Archer Aviation’s revenue was up 29900.0% on a year-over-year basis. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,172 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $65,711.12. Following the completion of the transaction, the chief financial officer directly owned 171,754 shares of the company’s stock, valued at approximately $1,109,530.84. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Lentell sold 37,390 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $241,539.40. Following the transaction, the insider directly owned 139,483 shares of the company’s stock, valued at $901,060.18. This represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 255,750 shares of company stock valued at $1,645,333. Corporate insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC raised its position in Archer Aviation by 180.0% during the 3rd quarter. Voya Investment Management LLC now owns 418,366 shares of the company’s stock worth $4,008,000 after buying an additional 268,955 shares during the last quarter. Marex Group plc purchased a new position in Archer Aviation during the 2nd quarter worth approximately $24,699,000. AlphaQuest LLC raised its position in Archer Aviation by 3,207.5% during the 3rd quarter. AlphaQuest LLC now owns 85,202 shares of the company’s stock worth $816,000 after buying an additional 82,626 shares during the last quarter. New York State Common Retirement Fund raised its position in Archer Aviation by 72.4% during the 2nd quarter. New York State Common Retirement Fund now owns 172,587 shares of the company’s stock worth $1,873,000 after buying an additional 72,500 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Archer Aviation during the 3rd quarter worth approximately $816,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.