Archer Aviation (NYSE:ACHR) Stock Price Up 3.6% - Should You Buy?

Key Points

• Archer Aviation shares rose 3.6% in Friday trading, touching an intraday high of $6.43 on heavy volume that was about 120% above average.
• Analyst sentiment remains mixed but generally positive: Archer has an average “Moderate Buy” rating with a consensus price target of $11.83, though some firms recently trimmed their targets and one rating remains a sell.
• The company continues to post losses, missing its latest EPS and revenue estimates, while insiders have recently sold stock even as institutional investors still own the majority of shares.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) rose 3.6% during mid-day trading on Friday . The company traded as high as $6.43 and last traded at $6.3410. Approximately 79,158,162 shares changed hands during trading, an increase of 120% from the average daily volume of 36,025,969 shares. The stock had previously closed at $6.12.

Analysts Set New Price Targets

ACHR has been the topic of a number of analyst reports. 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Canaccord Genuity Group dropped their target price on Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.83.

Archer Aviation Stock Up 3.6%

The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -5.76 and a beta of 3.13. The stock has a 50 day moving average of $5.85 and a 200 day moving average of $7.14. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The company 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. As a group, analysts expect that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $611,923.50. Following the completion of the transaction, the chief technology officer directly owned 1,345,430 shares in the company, valued at approximately $8,691,477.80. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Harsh Rungta sold 22,826 shares of Archer Aviation 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 transaction, the chief accounting officer owned 65,458 shares of the company's stock, valued at $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 502,739 shares of company stock valued at $3,124,236 over the last ninety days. 7.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Jackson Hole Trust boosted its stake in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after acquiring an additional 986 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Archer Aviation by 2.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company's stock valued at $443,000 after acquiring an additional 1,107 shares during the period. Farther Finance Advisors LLC boosted its stake in Archer Aviation by 7.0% in the fourth 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 during the period. HighPoint Advisor Group LLC boosted its stake in Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company's stock valued at $344,000 after acquiring an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in 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 acquiring an additional 1,254 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.