Archer Aviation (NYSE:ACHR) Stock Price Up 2.1% - Time to Buy?

Key Points

• Archer Aviation shares rose 2.1% to about $5.57, with the stock trading below its $11.50 consensus analyst price target. Analysts’ views remain mixed, resulting in an overall “Hold” rating.
• The company’s latest quarterly results met expectations, reporting an adjusted loss of $0.34 per share while revenue of $5.0 million exceeded the $1.94 million consensus estimate. Analysts expect a full-year loss of $1.37 per share.
• Insiders sold shares recently, including transactions by the CFO and chief accounting officer to cover tax obligations; insiders sold 176,657 shares worth roughly $1.12 million over the past 90 days.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares shot up 2.1% during mid-day trading on Friday . The company traded as high as $5.65 and last traded at $5.5650. Approximately 19,837,490 shares traded hands during trading, a decline of 46% from the average session volume of 37,042,613 shares. The stock had previously closed at $5.45.

Analyst Upgrades and Downgrades

ACHR has been the subject of several analyst reports. Barclays upgraded shares of Archer Aviation to a "hold" rating in a report on Wednesday, July 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. HC Wainwright reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.50.

Archer Aviation Stock Up 2.1%

The stock has a fifty day simple moving average of $5.47 and a two-hundred day simple moving average of $5.76. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.29 billion, a PE ratio of -5.15 and a beta of 3.23.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Activity

In other news, CFO Priya Gupta sold 10,015 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the transaction, the chief financial officer owned 202,784 shares of the company's stock, valued at approximately $1,299,845.44. The trade was a 4.71% decrease in their ownership of the stock. 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, CAO Harsh Rungta sold 13,880 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the completion of the transaction, the chief accounting officer owned 110,847 shares in the company, valued at approximately $710,529.27. This trade represents a 11.13% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 176,657 shares of company stock worth $1,122,371. 5.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently made changes to their positions in ACHR. 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 last quarter. Gould Capital LLC raised its position in 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its position 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 valued at $28,000 after purchasing an additional 3,335 shares in the last quarter. Strs Ohio bought a new stake in Archer Aviation during the first quarter worth about $27,000. Finally, Modus Advisors LLC bought a new stake in Archer Aviation during the fourth quarter worth about $29,000. Institutional investors own 59.34% of the company's stock.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to transport passengers over short distances using distributed electric propulsion, with the goal of providing quieter and potentially faster alternatives to traditional ground transportation in congested urban areas.

The company's primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft intended for commercial air taxi operations.

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