Archer Aviation (NYSE:ACHR) Trading Up 3.4% – Should You Buy?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 3.4% during trading on Monday . The stock traded as high as $5.90 and last traded at $5.7310. Approximately 39,163,608 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 37,904,336 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACHR. Canaccord Genuity Group dropped their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Finally, Needham & Company LLC dropped their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Stock Up 3.4%

The company has a market capitalization of $4.35 billion, a PE ratio of -5.21 and a beta of 3.14. The firm’s 50-day simple moving average is $5.96 and its 200 day simple moving average is $6.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the previous year, the company earned ($0.17) EPS. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the completion of the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 10,949 shares of Archer Aviation stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $68,650.23. Following the transaction, the insider directly owned 384,768 shares of the company’s stock, valued at approximately $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 282,840 shares of company stock worth $1,703,688. 7.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Prime Capital Investment Advisors LLC boosted its position in shares of Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after buying an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after acquiring an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC raised its position in Archer Aviation by 3.6% during 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. Clear Creek Financial Management LLC lifted its holdings 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 purchasing an additional 1,254 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Archer Aviation by 8.2% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock valued at $160,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.