Archer Aviation (NYSE:ACHR) Stock Price Up 3.7% - What's Next?

Key Points

• Archer stock rose 3.7% intraday to $5.405 on Thursday, with 20.88 million shares traded—about 41% below its average session volume.
• Analysts give a consensus rating of "Moderate Buy" with a $12 target (five Buys, two Holds, one Sell); Needham trimmed its price target to $9 while maintaining a Buy rating.
• Fundamentals remain weak: Archer reported Q1 EPS of ($0.26) versus ($0.17) expected and revenue of $0.30M versus $1.4M est, and insiders sold roughly 380,750 shares over the past three months (insiders own 7.65%).

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price traded up 3.7% during mid-day trading on Thursday . The company traded as high as $5.43 and last traded at $5.4050. 20,882,332 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 35,505,488 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

Several equities research analysts have recently commented on ACHR shares. Needham & Company LLC decreased their price target on Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The stock has a market capitalization of $4.02 billion, a PE ratio of -5.46 and a beta of 3.24. The company's fifty day simple moving average is $6.70 and its two-hundred day simple moving average is $8.36.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The company's revenue for the quarter was up 29900.0% compared to the same quarter last year. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Harsh Rungta sold 22,826 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 7,263 shares of Archer Aviation stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $45,539.01. Following the sale, the chief financial officer owned 178,512 shares of the company's stock, valued at approximately $1,119,270.24. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 380,750 shares of company stock valued at $2,645,333. Insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the company. Johnson Investment Counsel Inc. acquired a new stake in shares of Archer Aviation during the third quarter worth $29,000. Bank of Jackson Hole Trust grew its holdings in Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after buying an additional 986 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock worth $36,000 after acquiring an additional 1,702 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Archer Aviation during the 3rd quarter worth about $33,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Archer Aviation by 138.8% in the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company's stock worth $34,000 after acquiring an additional 2,040 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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.

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.