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

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.61.

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC upped their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th.

Archer Aviation Price Performance

Shares of ACHR opened at $7.26 on Monday. The firm’s 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $6.89. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The stock has a market cap of $3.94 billion, a PE ratio of -5.50 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares in the company, valued at approximately $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,985 shares of company stock valued at $2,555,685 over the last 90 days. 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 bought and sold shares of the stock. Barclays PLC raised its position in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after acquiring an additional 446,864 shares during the period. Private Advisor Group LLC lifted its position in shares of Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock valued at $501,000 after acquiring an additional 36,840 shares in the last quarter. HBK Investments L P bought a new position in shares of Archer Aviation in the third quarter worth about $6,818,000. Finally, ARK Investment Management LLC grew its position in shares of Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after purchasing an additional 6,371,647 shares in the last quarter. Hedge funds and other 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.