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

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.7143.

A number of brokerages have weighed in on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Canaccord Genuity Group lifted their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Needham & Company LLC lowered their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th.

Archer Aviation Price Performance

NYSE ACHR opened at $7.83 on Friday. Archer Aviation has a one year low of $5.48 and a one year high of $14.62. The stock has a 50-day moving average of $9.98 and a 200 day moving average of $10.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -6.21 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, sell-side analysts forecast that Archer Aviation will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 90,648 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the completion of the sale, the chief technology officer directly owned 1,397,129 shares in the company, valued at $10,464,496.21. This represents a 6.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider owned 334,632 shares in the company, valued at $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock valued at $1,367,936 over the last three months. Insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ACHR. CIBC Bancorp USA Inc. bought a new position in shares of Archer Aviation during the 3rd quarter valued at approximately $563,000. Sunbelt Securities Inc. boosted its stake in shares of Archer Aviation by 83.2% in the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the company’s stock worth $48,000 after acquiring an additional 2,271 shares during the period. Advisory Services Network LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at approximately $81,000. Camelot Portfolios LLC bought a new stake in Archer Aviation in the 3rd quarter valued at $144,000. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Archer Aviation by 14.6% in the third quarter. Kestra Private Wealth Services LLC now owns 30,483 shares of the company’s stock worth $292,000 after buying an additional 3,875 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.