Archer Aviation (NYSE:ACHR) Stock Price Up 2.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 2.7% on Monday . The company traded as high as $5.71 and last traded at $5.5650. Approximately 24,761,217 shares traded hands during trading, a decline of 30% from the average daily volume of 35,348,359 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

ACHR has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Stock Up 3.9%

The firm has a 50-day moving average of $6.46 and a 200 day moving average of $8.24. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of -5.61 and a beta of 3.24. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $60,066.60. Following the sale, the chief technology officer owned 1,352,208 shares of the company’s stock, valued at $8,478,344.16. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the transaction, the chief accounting officer owned 65,458 shares in the company, valued at $422,858.68. This represents a 25.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 255,750 shares of company stock worth $1,645,333. 7.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Archer Aviation by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after purchasing an additional 2,312,899 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. State Street Corp boosted its holdings in Archer Aviation by 11.2% in the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after purchasing an additional 3,293,130 shares during the last quarter. Morgan Stanley boosted its holdings in Archer Aviation by 21.6% in the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after purchasing an additional 2,796,488 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after acquiring an additional 1,867,648 shares during the last quarter. Hedge funds and other institutional investors 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.