What's Going On With Archer Aviation Stock Tuesday?

Archer Aviation Inc. (NYSE:ACHR) shares are trading higher Tuesday on continued strength after the company announced definitive agreements to acquire Boeing’s Wisk Aero, SkyGrid, and Insitu subsidiaries.

Archer Posts Q2 Earnings, Announces Deal With Boeing

Archer and Boeing signed definitive agreements on Monday in which Archer will acquire Boeing’s Wisk Aero, SkyGrid and Insitu subsidiaries, creating an end-to-end physical AI platform for aerospace and defense. Archer said the deal is a “watershed moment” for the future of physical AI in aerospace and defense.

Archer CEO Adam Goldstein provided some additional commentary in the company’s quarterly report, calling the deal an “important inflection point for Archer,” noting that the planned acquisitions, combined with the company’s recent unveiling of Halo, ZEE and ACES, position Archer to “rapidly advance” its diversified, multi-platform strategy across air taxis, UAS and AI.

Archer reported a second-quarter loss of 34 cents per share after the close on Monday, in line with analyst estimates. The company also reported total revenue of $5 million, beating the consensus estimate of approximately $1.96 million. Total operating expenses came in at $284.20 million, leading to an adjusted EBITDA loss of $177.10 million.

Archer said it completed piloted Midnight flights during the quarter in preparation for operations later this year under the White House’s eVTOL Integration Pilot Program. The company guided for a third-quarter adjusted EBITDA loss of $170 million to $200 million.

Following the report, Cantor Fitzgerald analyst Andres Sheppard reiterated Archer with an Overweight rating and maintained a price target of $11, representing significant upside from the current share price.

Archer has a consensus Buy rating among analysts with an average target of $11, according to Benzinga analyst data.

Archer Aviation Shares Rise Tuesday

ACHR Price Action: Archer shares were up 7.03%, trading at $6.70 at the time of publication Tuesday morning, according to data from Benzinga Pro.

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