Archer Aviation (NYSE:ACHR) Trading Up 8.8% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was up 8.8% during trading on Monday . The stock traded as high as $5.62 and last traded at $5.5250. Approximately 57,167,694 shares were traded during trading, an increase of 50% from the average daily volume of 38,206,152 shares. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ACHR shares. 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 report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Five investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Stock Down 1.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The firm has a market capitalization of $4.08 billion, a P/E ratio of -4.88 and a beta of 3.14. The stock has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $6.85.

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

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This represents a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the transaction, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 250,743 shares of company stock valued at $1,497,672 over the last 90 days. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Archer Aviation by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after buying an additional 2,312,899 shares during the last quarter. ARK Investment Management LLC grew its stake in Archer Aviation by 12.4% during the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after buying an additional 3,869,252 shares during the last quarter. State Street Corp grew its stake in Archer Aviation by 11.2% during the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after buying an additional 3,293,130 shares during the last quarter. Morgan Stanley grew its stake in Archer Aviation by 21.6% during the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after buying an additional 2,796,488 shares during the last quarter. Finally, Geode Capital Management LLC grew 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 worth $108,197,000 after buying an additional 1,867,648 shares during the last quarter. 59.34% of the stock is currently 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.