Archer Aviation (NYSE:ACHR) Issues Earnings Results

Archer Aviation (NYSE:ACHR - Get Free Report) announced its earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08), Zacks reports. During the same period last year, the company posted ($0.46) EPS.

Archer Aviation Stock Performance

Shares of ACHR stock traded down $0.12 during trading hours on Friday, hitting $3.66. The company's stock had a trading volume of 5,870,851 shares, compared to its average volume of 4,963,862. The stock has a market cap of $1.14 billion, a PE ratio of -2.09 and a beta of 2.45. Archer Aviation has a 12-month low of $1.91 and a 12-month high of $7.49. The company has a 50 day moving average of $4.33 and a 200 day moving average of $5.13. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACHR shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Archer Aviation in a report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price target on Archer Aviation from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Friday, May 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $9.00.

Insider Buying and Selling

In related news, major shareholder N.V. Stellantis purchased 800,000 shares of the business's stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $4.60 per share, with a total value of $3,680,000.00. Following the transaction, the insider now owns 35,451,720 shares of the company's stock, valued at $163,077,912. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 3,150,000 shares of company stock valued at $15,724,500 over the last 90 days. Insiders own 27.17% of the company's stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.