Archer Aviation (ACHR) to Release Quarterly Earnings on Monday

Archer Aviation (NYSE:ACHR) is projected to post its quarterly earnings results after the market closes on Monday, February 24th. Analysts expect Archer Aviation to post earnings of ($0.40) per share and revenue of $0.20 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Archer Aviation Stock Performance

NYSE ACHR opened at $10.33 on Monday. The company’s 50 day simple moving average is $9.43 and its two-hundred day simple moving average is $5.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock has a market capitalization of $4.39 billion, a PE ratio of -7.82 and a beta of 3.13. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research report on Thursday, January 16th. Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Archer Aviation Company Profile

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.