Archer Aviation Stock Is Soaring Thursday: What's Piloting The Action?

Shares of Archer Aviation Inc (NYSE:ACHR) are trading higher Thursday afternoon, near its 52-week high, likely lifted by a wave of positive developments for its chief rival, Joby Aviation Inc (NYSE:JOBY).

What To Know: Joby’s stock surged this week on recent news of an expanded manufacturing capacity, significant progress with Federal Aviation Administration certification and successful piloted test flights in Dubai. These milestones suggest the path to commercializing air taxis is becoming clearer and less risky, benefiting all major players.

This progress is amplified by a supportive regulatory environment, with the FAA committed to safely integrating eVTOLs into U.S. airspace. As investors digest Joby's advancements, they are betting that Archer, a direct competitor, is on a similar successful trajectory toward launching its own air taxi service.

The sentiment was recently captured by CNBC's Jim Cramer, who grouped both stocks together, stating, "Archer and Joby, what can I say? I'm not going to fight them," underscoring belief in the two industry frontrunners as they race to redefine urban transportation.

What Else: While the sector-wide tailwinds are beneficial, Archer stands on its own significant achievements. The company is advancing its flagship "Midnight" aircraft through the FAA certification process, supported by major strategic partners.

Automaker Stellantis is assisting with manufacturing expertise, while United Airlines has placed a substantial pre-order, providing strong commercial validation. Furthermore, Archer is constructing its own high-volume manufacturing facility in Covington, Georgia.

Benzinga Edge Rankings: Recent analyst ratings compiled by Benzinga show a generally positive but nuanced Wall Street view on Archer’s stock. In late June, Cantor Fitzgerald reiterated its Overweight rating with a $13 price target.

This followed a mid-June update from Canaccord Genuity, which maintained its Buy rating while adjusting its price target down slightly to $13 from $13.50. In contrast, H.C. Wainwright & Co. demonstrated significant optimism on June 9, maintaining its Buy rating and substantially raising its price target to $18 from $12.

ACHR Price Action: According to data from Benzinga Pro, Archer Aviation shares are trading higher by 10.01% to $13.30 Thursday afternoon at publication. The stock has a 52-week high of $13.92 and a 52-week low of $2.82.

Read Also: Joby Stock Is Moving Higher Tuesday: What’s Going On?

How To Buy ACHR Stock

Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Archer Aviation’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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