Streetbeat News

ACHR

Archer Aviation Inc.

https://www.archer.com

Industry

Aerospace & Defense

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.

Open

3.40

Mkt cap

1.2B

Volume

28M

High

3.65

P/E Ratio

-2.97

52-wk high

7.01

Low

3.35

Div yield

N/A

52-wk low

2.82

Archer Aviation has provided financial estimates for Q4 2023, expecting GAAP total operating expenses of $100M-$110M and non-GAAP total operating expenses of $75M-$85M. The non-GAAP estimate reflects expected stock-based compensation, warrant expense and other one-time expenses of approximately $25M. The actual amount of these expenses during 2023 will significantly impact Archer's future GAAP financial results.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:21 pm

Archer Aviation (NYSE:ACHR) reported Q3 losses of $(0.19) per share, beating the analyst consensus estimate of $(0.30) by 36.67 percent. This represents a 50 percent decrease in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:19 pm

Archer Aviation Inc. (NYSE:ACHR) has signed a memorandum of understanding with InterGlobe Enterprises to launch an all-electric air taxi service in India by 2026. The partnership plans to finance the purchase of up to 200 of Archer's Midnight aircraft for the India operations. The companies also plan to collaborate with local business partners to manage operations, fund and construct vertiport infrastructure, and provide training for pilots and other essential personnel.

Portfolio Pulse from Nabaparna Bhattacharya

November 09, 2023 | 10:55 am

Archer Aviation has signed a Memorandum of Understanding with InterGlobe Enterprises to launch and operate an all-electric air taxi service in India.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 10:02 am

Archer Aviation has purchased several units of BETA's interoperable and multimodal fast-charging system for the electric aviation industry. The collaboration aims to accelerate the adoption of an interoperable charging system across the industry, following the standards outlined by the General Aviation Manufacturers Association (GAMA). BETA's charging systems are already in use at 14 locations across the eastern U.S, with plans to install them at another 55 locations and at Archer's flight test facilities in California.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:06 pm

Archer Aviation Inc. (ACHR) plans to debut its electric air taxi, Midnight, at the Dubai Air Show. The company recently announced a partnership with the Abu Dhabi Investment Office to make the UAE Archer's first international launch partner, with operations commencing in Abu Dhabi and Dubai in 2026. Archer is also working with Stellantis, Falcon Aviation, and GAL-AMMROC to build out aircraft manufacturing capabilities to service regional demands in the UAE and surrounding areas.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 2:07 pm

Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round'. He said BP is 'not great, not bad' and he's sticking with Coterra Energy. He recommended Super Micro Computer and suggested waiting for CNH Industrial's earnings report. He expressed lack of confidence in Aurinia Pharmaceuticals and suggested avoiding General Motors. He recommended buying Boeing and waiting for Symbotic's earnings.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 12:37 pm

Shares of broader industrial stocks are experiencing a downturn due to overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:56 pm

Archer Aviation Inc. (NYSE:ACHR) announced that the plaintiff in the federal securities lawsuit filed against the company has voluntarily dismissed the case. This comes after Archer filed its motion to dismiss the case. The company remains focused on its mission and creating value for shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 1:02 pm

Insider trades were noted in Archer Aviation Inc. (ACHR), Asana, Inc. (ASAN), and John Wiley & Sons, Inc. (WLY). ACHR's 10% owner SFS UK 1 LTD. acquired 12,313,234 shares at an average price of $5.68, costing around $70 million. ASAN's President, CEO and Chair Dustin Moskovitz acquired 280,000 shares at an average price of $18.67, costing around $5.23 million. WLY's Director David Dobson bought 5,081 shares at an average price of $29.99, costing around $152,357.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 10:55 am

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