Archer Aviation (NYSE:ACHR) Posts Earnings Results

Archer Aviation (NYSE:ACHR) announced its earnings results on Thursday. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08), Zacks reports. During the same quarter last year, the company earned ($0.46) EPS.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded down $0.15 during trading on Friday, reaching $3.62. The company had a trading volume of 4,649,918 shares, compared to its average volume of 4,948,725. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. The stock’s fifty day moving average price is $4.33 and its 200 day moving average price is $5.13. Archer Aviation has a fifty-two week low of $1.91 and a fifty-two week high of $7.49. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.18 and a beta of 2.45.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 750,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $5.19 per share, for a total transaction of $3,892,500.00. Following the acquisition, the insider now directly owns 39,351,720 shares of the company’s stock, valued at approximately $204,235,426.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 3,150,000 shares of company stock worth $15,724,500. Company insiders own 27.17% of the company’s stock.

Wall Street Analyst Weigh In

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

About Archer Aviation

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.