Archer Aviation Inc. (NYSE:ACHR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.33.

Several research analysts have recently commented on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC began coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th.

Archer Aviation Stock Up 4.5 %

Shares of NYSE ACHR opened at $6.04 on Tuesday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $3.48 and its two-hundred day moving average is $3.66. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $7.01. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -4.58 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Research analysts predict that Archer Aviation will post -1.2 EPS for the current year.

Insider Activity

In other Archer Aviation news, CEO Adam D. Goldstein bought 19,762 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the purchase, the chief executive officer now directly owns 2,014,890 shares in the company, valued at $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P acquired a new stake in shares of Archer Aviation during the third quarter worth about $6,818,000. Alpine Global Management LLC acquired a new position in Archer Aviation during the first quarter worth approximately $5,782,000. Sora Investors LLC acquired a new position in Archer Aviation during the third quarter worth approximately $3,429,000. Intellectus Partners LLC lifted its stake in Archer Aviation by 136.1% in the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after buying an additional 523,024 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after acquiring an additional 391,092 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.