Archer Aviation (NYSE:ACHR) Trading Up 1.6% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) was up 1.6% during trading on Monday . The stock traded as high as $6.21 and last traded at $6.1250. Approximately 34,207,443 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 37,628,859 shares. The stock had previously closed at $6.03.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. The Goldman Sachs Group started coverage on Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Canaccord Genuity Group boosted their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Needham & Company LLC cut their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Five 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 stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Stock Performance

The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -6.19 and a beta of 3.10. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.63.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. The firm’s revenue was up 29900.0% compared to the same quarter last year. Analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In other news, CAO Harsh Rungta sold 22,826 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the completion of the sale, the chief accounting officer directly owned 65,458 shares of the company’s stock, valued at $422,858.68. This represents a 25.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,172 shares of the 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 sale, the chief financial officer owned 171,754 shares in the company, valued at $1,109,530.84. This represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 344,899 shares of company stock worth $2,420,548. 7.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently made changes to their positions in the business. Gould Capital LLC boosted its holdings in 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 during the last quarter. Strs Ohio bought a new position in Archer Aviation in the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its stake in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after buying an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC bought a new stake in Archer Aviation during the 4th quarter worth about $29,000. 59.34% of the stock is owned by 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.