Archer Aviation (NYSE:ACHR) Shares Up 2.2% - Here's What Happened

Key Points

• Archer shares rose 2.2% on Friday to $5.865 (intraday high $5.92) on ~31.2 million shares traded, about 5% below its average session volume.
• Analysts maintain a consensus "Moderate Buy" with a $12 average price target (five Buys, two Holds, one Sell), though Needham recently cut its target from $10 to $9 while keeping a Buy rating.
• The company missed expectations (Q: EPS −$0.26 vs. −$0.17 est.; revenue $0.3M vs. $1.4M est.), shows negative P/E but very high liquidity ratios (~19.9) and low debt, and insiders have been selling shares recently (notably the CTO and CAO).

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price shot up 2.2% during trading on Friday . The stock traded as high as $5.92 and last traded at $5.8650. 31,194,030 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 32,891,586 shares. The stock had previously closed at $5.74.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACHR. Needham & Company LLC lowered their price objective 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. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th. Five 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Archer Aviation Stock Up 2.2%

The company has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $7.69. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.37 billion, a P/E ratio of -5.92 and a beta of 3.24.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts' expectations of $1.40 million. The company's revenue was up 29900.0% on a year-over-year basis. As a group, equities analysts predict that Archer Aviation Inc. will post -1.51 EPS for the current year.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 94,725 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $611,923.50. Following the transaction, the chief technology officer owned 1,345,430 shares of the company's stock, valued at $8,691,477.80. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the sale, the chief accounting officer owned 65,458 shares of the company's stock, valued at approximately $422,858.68. This represents a 25.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 255,750 shares of company stock valued at $1,645,333 over the last 90 days. 7.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in the company. Gould Capital LLC grew its position in Archer Aviation by 238.1% during the 4th 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 period. Strs Ohio acquired a new stake in Archer Aviation during the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its position in Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock worth $28,000 after purchasing an additional 3,335 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation during the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC acquired a new stake in Archer Aviation during the 4th quarter worth about $29,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.

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