• Sat. Sep 24th, 2022

Archer Aviation (ACHR) set to announce results on Wednesday

ByMary M. Ward

Aug 8, 2022

ArcherAviation (NYSE: ACHRGet a rating) is expected to release earnings data after the market closes on Wednesday, August 10. Analysts expect Archer Aviation to post earnings of ($0.21) per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.

ArcherAviation (NYSE: ACHRGet a rating) last released its quarterly results on Thursday, May 12. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). On average, analysts expect Archer Aviation to post EPS of -$1 for the current fiscal year and EPS of -$1 for the next fiscal year.

Archer Aviation is trading down 3.7%

Archer Aviation Stock opened at $4.38 on Monday. The company has a quick ratio of 20.90, a current ratio of 20.90 and a leverage ratio of 0.02. Archer Aviation has a 52-week low of $2.61 and a 52-week high of $10.53. The stock has a 50-day moving average price of $3.80 and a 200-day moving average price of $3.72.

Insider activity at Archer Aviation

Separately, CEO Adam D. Goldstein sold 2,700,000 shares of the company in a trade on Friday, June 24. The stock was sold at an average price of $4.08, for a total value of $11,016,000.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Separately, major shareholder Brett Adcock sold 100,000 shares in a transaction dated Wednesday, August 3. The stock was sold at an average price of $4.39, for a total value of $439,000.00. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, CEO Adam D. Goldstein sold 2,700,000 shares in a trade dated Friday, June 24. The shares were sold at an average price of $4.08, for a total value of $11,016,000.00. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 2,847,090 shares of the company worth $11,639,593.

Institutional entries and exits

A number of hedge funds have recently changed their positions in the business. Invesco Ltd. increased its position in Archer Aviation shares by 31.9% in the 1st quarter. Invesco Ltd. now owns 4,464,734 shares of the company valued at $21,475,000 after purchasing an additional 1,079,978 shares during the period. BlackRock Inc. increased its position in Archer Aviation shares by 6.1% in the first quarter. BlackRock Inc. now owns 1,642,200 shares of the company valued at $7,899,000 after purchasing an additional 94,992 shares during the period. Charles Schwab Investment Management Inc. increased its position in Archer Aviation shares by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 582,040 shares of the company valued at $2,800,000 after purchasing an additional 14,424 shares during the period. State Street Corp increased its position in Archer Aviation shares by 11.8% in the first quarter. State Street Corp now owns 393,968 shares of the company valued at $1,895,000 after purchasing an additional 41,668 shares during the period. Finally, Goldman Sachs Group Inc. strengthened its position in Archer Aviation shares by 131.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 268,190 shares of the company valued at $1,290,000 after purchasing an additional 152,466 shares during the period. Hedge funds and other institutional investors own 37.12% of the company’s shares.

A Wall Street analyst gives his opinion

Several research analysts have weighed in on the company recently. JPMorgan Chase & Co. assumed coverage for Archer Aviation in a research report Thursday, April 28. They set an “overweight” rating and a price target of $7.00 for the company. Raymond James began covering Archer Aviation in a research report on Wednesday July 27. They set an “outperform” rating and a price target of $8.00 for the company. Benchmark lowered its price target on Archer Aviation to $12.00 and gave the stock an “na” rating in a Thursday, May 19 research note. Finally, Deutsche Bank Aktiengesellschaft began covering Archer Aviation in a research note on Monday, April 11. They issued a “buy” rating and a price target of $10.00 on the stock. One equity research analyst gave the stock a hold rating and four gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.42.

Archer Aviation Company Profile

(Get a rating)

Archer Aviation Inc, an urban air mobility company, designs, develops, manufactures and operates electric vertical take-off and landing aircraft to transport passengers. The company was previously known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.

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