Archer Aviation (NYSE:ACHR) Trading Up 4.2% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR) shares were up 4.2% during trading on Monday . The company traded as high as $4.92 and last traded at $4.8350. 30,496,513 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 37,619,512 shares. The stock had previously closed at $4.64.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACHR. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Hold” and a consensus target price of $11.83.

Archer Aviation Stock Performance

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $6.12. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -4.40 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) EPS. On average, analysts expect that Archer Aviation Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 91,839 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the sale, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at approximately $8,700,768.30. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock valued at $1,497,672 in the last quarter. 5.55% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in ACHR. Handelsbanken Fonder AB increased its position in Archer Aviation by 41.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 227,400 shares of the company’s stock valued at $1,076,000 after purchasing an additional 66,700 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of Archer Aviation by 22.9% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after purchasing an additional 2,447 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of Archer Aviation by 20.0% in the 2nd quarter. Focus Financial Network Inc. now owns 16,890 shares of the company’s stock valued at $80,000 after purchasing an additional 2,820 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Archer Aviation by 97.6% during the second quarter. CoreCap Advisors LLC now owns 13,706 shares of the company’s stock worth $65,000 after buying an additional 6,771 shares during the period. Finally, Western Wealth Management LLC increased its position in shares of Archer Aviation by 22.0% during the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock worth $119,000 after buying an additional 4,144 shares during the period. 59.34% of the stock is currently owned by institutional investors.

About Archer Aviation

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.