Archer Aviation (NYSE:ACHR) Hits New 1-Year High - Still a Buy?

Key Points

• Archer Aviation's stock reached a new **52-week high** of $14.54 before closing at $14.02, with a total trading volume of over **17.5 million shares**.
• Analyst ratings on Archer Aviation vary, with **seven analysts** giving a "Buy" rating, one a "Hold," and one a "Sell," resulting in a consensus rating of **"Moderate Buy."**
• The company reported a loss of **($0.36) earnings per share**, which was below the consensus estimate of **($0.24)**, showcasing ongoing financial challenges.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.54 and last traded at $14.02, with a volume of 17572823 shares trading hands. The stock had previously closed at $13.02.

Analyst Ratings Changes

A number of research analysts recently issued reports on ACHR shares. JPMorgan Chase & Co. boosted their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Up 9.7%

The company has a fifty day simple moving average of $9.84 and a two-hundred day simple moving average of $9.74. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $9.21 billion, a P/E ratio of -10.73 and a beta of 3.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 48,936 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the sale, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. This represents a 50.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider owned 295,337 shares in the company, valued at $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in Archer Aviation by 394.9% during the third quarter. Farther Finance Advisors LLC now owns 17,439 shares of the company's stock worth $167,000 after acquiring an additional 13,915 shares in the last quarter. Alpha Wealth Funds LLC bought a new stake in Archer Aviation in the third quarter valued at approximately $94,000. HBK Sorce Advisory LLC bought a new stake in Archer Aviation in the third quarter valued at approximately $116,000. J2 Capital Management Inc bought a new stake in Archer Aviation in the third quarter valued at approximately $118,000. Finally, Sound Income Strategies LLC bought a new stake in Archer Aviation in the third quarter valued at approximately $33,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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