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

4.28

Mkt cap

1.8B

Volume

16M

High

4.29

P/E Ratio

-3.14

52-wk high

7.01

Low

4.05

Div yield

N/A

52-wk low

2.82

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Archer Aviation (NYSE:ACHR) and maintained a $10 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 6:09 pm

Shares of Archer Aviation Inc (ACHR) are surging after the company announced a Space Act Agreement with NASA for joint efforts in battery characterization. The collaboration will focus on testing battery cells' safety, energy, and power performance for aerospace applications, including eVTOL, eCTOL aircraft, and potential space usage. Archer's battery system for its Midnight electric air taxi will be tested by NASA, with results aimed at advancing the AAM industry. ACHR stock rose 5.43% to $5.34.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 3:45 pm

Mesa Air Group, Inc. (MESA) stock is surging after announcing amended agreements with United Airlines Holdings, Inc. (UAL) that increase block-hour rates and adjust credit terms. The changes are expected to bring Mesa $63.5 million in additional revenue over the next year and improve liquidity. United also agreed to reduce Mesa's credit facility balance by $2.1 million and forgive a $10.5 million bridge loan in exchange for Mesa's investment in Heart Aerospace. Mesa has sold excess CRJ-900 aircraft and engines for $198 million, using the proceeds to pay down $174.3 million in debt. Mesa's CEO believes these moves will significantly increase contract revenue and margins.

Portfolio Pulse from Erica Kollmann

January 19, 2024 | 3:20 pm

Archer Aviation Inc. (ACHR) and Atlantic Aviation have signed an MOU to develop infrastructure for electric aircraft operations across key regions including LA, Northern California, South Florida, and NYC. The collaboration will electrify several of Atlantic Aviation's assets to support Archer's Midnight air taxi and other electric aircraft, utilizing BETA Technologies' rapid recharging systems endorsed by GAMA.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 9:11 am

Archer Aviation (NYSE:ACHR) has seen a decrease in short interest, with the short percent of float dropping 5.57% since the last report. The company has 39.63 million shares sold short, representing 17.8% of available shares for trading. The current short interest suggests it would take about 6.72 days for traders to cover their positions. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Archer Aviation's short interest is higher than its peer group average of 6.76%.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 4:30 pm

Jim Cramer expressed his preference for traditional payment companies over fintechs, favoring Mastercard and Visa over Block, Inc. He labeled Archer Aviation as too speculative, gave a hard pass on Arbor Realty Trust, was optimistic about Becton, Dickinson's recovery, and did not recommend investing in Philip Morris. The article also reports on the recent price movements of these companies' stocks.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 2:09 pm

Archer Aviation (ACHR) and Air Chateau International have announced a deal where Air Chateau plans to purchase up to 100 Midnight aircraft from Archer, with the deal valued at up to $500 million. This significant order could bolster Archer's financials and backlog, indicating a strong demand for its Midnight aircraft.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:09 pm

Archer Aviation (NYSE:ACHR) reported its Q3 earnings, beating estimated earnings by 36.67% with an EPS of $-0.19 versus an estimate of $-0.3. However, revenue was down $0 from the same period last year. Last quarter, the company missed on EPS by $0.12, which was followed by a 1.03% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 9:25 pm

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

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.