Archer Aviation (ACHR) Scheduled to Post Quarterly Earnings on Thursday

Archer Aviation (NYSE:ACHR) will be posting its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Archer Aviation to post earnings of ($0.29) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). On average, analysts expect Archer Aviation to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Archer Aviation Trading Down 2.4 %

Shares of Archer Aviation stock opened at $3.87 on Wednesday. The firm’s 50-day moving average price is $4.37 and its 200 day moving average price is $5.15. The firm has a market capitalization of $1.20 billion, a PE ratio of -2.23 and a beta of 2.45. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.06. Archer Aviation has a twelve month low of $1.91 and a twelve month high of $7.49.

Insider Activity

In other news, major shareholder N.V. Stellantis acquired 800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were bought at an average cost of $4.83 per share, for a total transaction of $3,864,000.00. Following the acquisition, the insider now directly owns 36,251,720 shares in the company, valued at approximately $175,095,807.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 3,150,000 shares of company stock valued at $15,724,500 over the last 90 days. Insiders own 27.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACHR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.00.

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.