Archer Aviation (NYSE:ACHR) Posts Earnings Results, Beats Expectations By $0.10 EPS

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

Archer Aviation Trading Up 7.5 %

ACHR traded up $0.60 during trading on Friday, reaching $8.52. The company had a trading volume of 41,112,451 shares, compared to its average volume of 33,161,449. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -6.44 and a beta of 3.14. The firm’s 50-day simple moving average is $9.60 and its 200 day simple moving average is $6.20.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 751,879 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the acquisition, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,057,729 shares of company stock valued at $8,473,770. 9.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC increased their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.