Archer Aviation (NYSE:ACHR) Stock Price Up 4.2% - Here's What Happened

Key Points

• Shares rose 4.2% to $5.68 (intraday high $5.75) on Tuesday, with ~22.04 million shares traded — about 36% below the average daily volume.
• Archer missed quarterly expectations, reporting EPS of ($0.26) vs. ($0.17) expected and revenue of $0.30M vs. $1.40M expected; analysts still hold a consensus "Moderate Buy" rating with a $12 target amid mixed individual ratings.
• Company insiders sold a total of 255,750 shares over the past three months (including recent sales by the CFO), leaving insiders with 7.65% ownership while institutions hold ~59.34%.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares rose 4.2% on Tuesday . The company traded as high as $5.75 and last traded at $5.68. Approximately 22,035,366 shares were traded during trading, a decline of 36% from the average daily volume of 34,301,477 shares. The stock had previously closed at $5.45.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACHR. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Needham & Company LLC lowered their price target on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Archer Aviation Stock Performance

The company has a market capitalization of $4.23 billion, a PE ratio of -5.74 and a beta of 3.24. The business's 50-day moving average is $6.30 and its 200-day moving average is $8.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. Archer Aviation's revenue was up 29900.0% compared to the same quarter last year. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,172 shares of Archer Aviation stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $65,711.12. Following the completion of the transaction, the chief financial officer directly owned 171,754 shares of the company's stock, valued at approximately $1,109,530.84. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 54,786 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 transaction of $353,917.56. Following the completion of the transaction, the insider directly owned 377,022 shares of the company's stock, valued at $2,435,562.12. This trade represents a 12.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 255,750 shares of company stock valued at $1,645,333. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Gould Capital LLC raised its holdings in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock valued at $27,000 after purchasing an additional 2,507 shares during the last quarter. Strs Ohio purchased a new position in shares of Archer Aviation during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock valued at $28,000 after purchasing an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation during the third quarter valued at approximately $29,000. Finally, Modus Advisors LLC purchased a new position in shares of Archer Aviation during the fourth quarter valued at approximately $29,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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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