Archer Aviation (NYSE:ACHR) Releases Earnings Results

Archer Aviation (NYSE:ACHR) released its quarterly earnings results on Thursday. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10, reports.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded up $0.80 during trading hours on Friday, reaching $8.72. 45,042,779 shares of the stock traded hands, compared to its average volume of 33,273,289. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -6.58 and a beta of 3.14. The company has a 50 day moving average price of $9.60 and a 200 day moving average price of $6.20. Archer Aviation has a one year low of $2.82 and a one year high of $12.48.

Insider Transactions at Archer Aviation

In related news, General Counsel Eric Lentell sold 114,788 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total value of $773,671.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder N.V. Stellantis acquired 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,057,729 shares of company stock worth $8,473,770 in the last three months. Corporate insiders own 9.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ACHR shares. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday. Finally, Needham & Company LLC lifted their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.61.

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.