Archer Aviation Inc. (NYSE:ACHR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Archer Aviation Inc. (NYSE:ACHR) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.38.

Several equities analysts have weighed in on ACHR shares. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group raised their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th.

Archer Aviation Price Performance

NYSE ACHR opened at $9.14 on Friday. 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 stock has a market capitalization of $3.88 billion, a PE ratio of -6.92 and a beta of 3.14. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a 50 day moving average price of $9.21 and a two-hundred day moving average price of $5.67.

Archer Aviation (NYSE:ACHR) last released 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 last year, the business earned ($0.19) EPS. As a group, equities analysts predict that Archer Aviation will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah Diaz acquired 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Hsbc Holdings PLC lifted its holdings in shares of Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after acquiring an additional 3,341 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Archer Aviation by 42.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company’s stock worth $425,000 after purchasing an additional 36,130 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Archer Aviation during the 2nd quarter valued at about $62,000. Algert Global LLC acquired a new position in Archer Aviation in the second quarter valued at about $76,000. Finally, Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation during the third quarter worth about $31,000. Institutional investors 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.