Archer Aviation (NYSE:ACHR) Trading 9.8% Higher - What's Next?

Key Points

• Archer shares were up 9.8% intraday to a high of $6.46 (last $6.415) on heavy volume of 54.5 million shares, a 63% increase versus average session volume.
• Analyst coverage is mixed but leans positive: five Buys, two Holds and one Sell yield an average rating of Moderate Buy and an average target of $12, though Needham recently trimmed its target to $9.
• The company missed the quarter (reported $(0.26)/share vs. $(0.17) est., revenue $0.3M vs. $1.4M est.) and faces an expected FY EPS of -1.51, while insiders sold roughly 255,750 shares last quarter and now own 7.65% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price traded up 9.8% during mid-day trading on Wednesday . The stock traded as high as $6.46 and last traded at $6.4150. 54,500,981 shares were traded during trading, an increase of 63% from the average session volume of 33,334,828 shares. The stock had previously closed at $5.84.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th. Needham & Company LLC lowered their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Archer Aviation Trading Up 9.8%

The company's fifty day moving average price is $5.99 and its two-hundred day moving average price is $7.53. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share 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 quarterly revenue was up 29900.0% on a year-over-year basis. On average, equities analysts predict that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Harsh Rungta sold 22,826 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 $147,455.96. Following the sale, the chief accounting officer owned 65,458 shares of the company's stock, valued at $422,858.68. The trade was a 25.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Lentell sold 8,059 shares of Archer Aviation stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $50,529.93. Following the completion of the sale, the insider directly owned 150,119 shares in the company, valued at approximately $941,246.13. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 255,750 shares of company stock valued at $1,645,333. Corporate insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in ACHR. Gould Capital LLC boosted its holdings in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in Archer Aviation during the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 worth $28,000 after buying an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Archer Aviation during the third quarter worth about $29,000. Finally, Modus Advisors LLC purchased a new stake in Archer Aviation during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

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.

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