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

Archer Aviation (NYSE:ACHR) announced its quarterly earnings data on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10, reports.

Archer Aviation Stock Up 10.0 %

ACHR stock traded up $0.80 during trading on Friday, hitting $8.72. 45,042,779 shares of the company’s stock traded hands, compared to its average volume of 33,273,289. The firm has a market capitalization of $3.71 billion, a P/E ratio of -6.58 and a beta of 3.14. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48. 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 business has a fifty day simple moving average of $9.60 and a two-hundred day simple moving average of $6.20.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the transaction, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 over the last 90 days. Company insiders own 9.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.