Archer Aviation Inc. (NYSE:ACHR) Expected to Announce Earnings of -$0.21 Per Share - Defense World - Financial Daily News Site

Archer Aviation Inc. (NYSE:ACHR) Expected to Announce Earnings of -$0.21 Per Share – Defense World


Brokerages forecast that Archer Aviation Inc. (NYSE:ACHR – Get Rating) will announce earnings of ($0.21) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Archer Aviation’s earnings. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Archer Aviation will report full year earnings of ($1.01) per share for the current financial year, with EPS estimates ranging from ($1.21) to ($0.88). For the next year, analysts expect that the company will post earnings of ($0.94) per share, with EPS estimates ranging from ($1.04) to ($0.84). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Archer Aviation.

A number of equities research analysts recently issued reports on ACHR shares. Benchmark dropped their price objective on shares of Archer Aviation to $12.00 and set a “na” rating for the company in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of Archer Aviation in a research note on Monday, April 11th. They issued a “buy” rating and a $10.00 price objective for the company. Zacks Investment Research lowered shares of Archer Aviation from a “buy” rating to a “sell” rating in a research note on Tuesday, May 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Archer Aviation in a research note on Thursday, April 28th. They issued an “overweight” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.79.

ACHR opened at $3.46 on Friday. The firm has a fifty day moving average price of $4.12 and a 200 day moving average price of $4.49. Archer Aviation has a 1 year low of $2.61 and a 1 year high of $10.72.

In related news, major shareholder Marc E. Lore bought 87,402 shares of the firm’s stock in a transaction on Tuesday, March 1st. The shares were bought at an average cost of $3.12 per share, for a total transaction of $272,694.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Marc E. Lore acquired 163,355 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The stock was acquired at an average price of $2.98 per share, for a total transaction of $486,797.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 541,303 shares of company stock worth $1,666,395 over the last 90 days.

Institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. purchased a new stake in shares of Archer Aviation in the 4th quarter worth about $30,000. Mariner Investment Group LLC purchased a new position in Archer Aviation in the 3rd quarter valued at about $89,000. TIG Advisors LLC purchased a new position in Archer Aviation in the 3rd quarter valued at about $89,000. BBR Partners LLC purchased a new position in Archer Aviation in the 4th quarter valued at about $61,000. Finally, Capital Wealth Alliance LLC purchased a new position in Archer Aviation in the 4th quarter valued at about $62,000. Institutional investors and hedge funds own 37.12% of the company’s stock.

About Archer Aviation (Get Rating)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly 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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