Archer Aviation (NYSE:ACHR) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Archer Aviation (NYSE:ACHR) released its quarterly earnings results on Friday. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05), Zacks reports. During the same quarter in the prior year, the business posted ($0.19) EPS.

Archer Aviation Stock Up 15.9 %

NYSE:ACHR traded up $0.62 on Monday, hitting $4.51. The company had a trading volume of 48,850,715 shares, compared to its average volume of 12,990,410. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $7.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The firm has a 50 day moving average of $3.19 and a two-hundred day moving average of $3.60.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent analyst reports. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.00.

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.