Archer Aviation (NYSE:ACHR) Stock Price Up 2% - Time to Buy?

Key Points

• Archer Aviation shares rose 2% to about $5.83, with a market capitalization of $4.49 billion. The company reported a quarterly loss of $0.34 per share, in line with estimates, while revenue of $5 million exceeded expectations.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, three rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $11.50, substantially above the current price.
• Insiders sold 180,411 shares worth approximately $1.14 million over the past quarter, though the disclosed executive sales were made to cover tax obligations from vested equity awards. Institutional investors own 59.34% of the company.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares shot up 2% on Tuesday . The stock traded as high as $5.89 and last traded at $5.8250. Approximately 22,345,140 shares traded hands during trading, a decline of 40% from the average session volume of 37,311,977 shares. The stock had previously closed at $5.71.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACHR. Wells Fargo & Company set a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays upgraded shares of Archer Aviation to a "hold" rating in a research note on Wednesday, July 29th. HC Wainwright restated a "buy" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $11.50.

Archer Aviation Trading Up 2.0%

The stock's 50 day simple moving average is $5.43 and its 200 day simple moving average is $5.79. The firm has a market cap of $4.49 billion, a PE ratio of -5.39 and a beta of 3.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analysts' expectations of $1.94 million. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CAO Harsh Rungta sold 13,880 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the completion of the transaction, the chief accounting officer directly owned 110,847 shares in the company, valued at approximately $710,529.27. This represents a 11.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the completion of the transaction, the chief financial officer directly owned 202,784 shares of the company's stock, valued at $1,299,845.44. This represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 180,411 shares of company stock worth $1,141,141 over the last quarter. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock worth $36,000 after purchasing an additional 1,702 shares during the period. Gould Capital LLC lifted its holdings in shares of Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company's stock valued at $27,000 after buying an additional 2,507 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Archer Aviation by 840.1% in the 4th 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 during the last quarter. Strs Ohio bought a new stake in shares of Archer Aviation in the first quarter worth $27,000. Finally, Modus Advisors LLC bought a new stake in shares of Archer Aviation in the fourth quarter worth $29,000. 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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