Archer Aviation (ACHR) Expected to Announce Earnings on Monday

Archer Aviation (NYSE:ACHR - Get Free Report) is anticipated to post its quarterly earnings results after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of ($0.40) per share and revenue of $0.20 million for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded up $0.09 during trading on Thursday, hitting $10.15. 39,197,093 shares of the stock were exchanged, compared to its average volume of 32,840,301. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $9.59 and a 200-day moving average price of $6.02. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -7.69 and a beta of 3.13. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $12.48.

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 751,879 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company'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 sale, the chief technology officer now directly owns 1,070,360 shares of the company's stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft increased their price target on 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 lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Archer Aviation in a report on Thursday, January 16th. Finally, Canaccord Genuity Group cut their target price on shares of Archer Aviation from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.25.

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.