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

Shares of Archer Aviation Inc. (NYSE:ACHR) have received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.1429.

Several equities research analysts recently weighed in on ACHR shares. JPMorgan Chase & Co. dropped their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price on the stock. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief technology officer owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the sale, the insider owned 334,632 shares in the company, valued at $2,506,393.68. The trade was 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 307,635 shares of company stock worth $2,367,936 over the last ninety days. Insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after purchasing an additional 16,452,398 shares during the last quarter. ARK Investment Management LLC lifted its position in Archer Aviation by 5.8% during the 3rd quarter. ARK Investment Management LLC now owns 31,301,449 shares of the company’s stock worth $299,868,000 after acquiring an additional 1,715,945 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Archer Aviation by 44.1% during the second quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock valued at $130,125,000 after acquiring an additional 3,671,753 shares during the period. Man Group plc grew its position in shares of Archer Aviation by 13,793.3% in the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after purchasing an additional 4,182,400 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Archer Aviation by 14.5% in the third quarter. Invesco Ltd. now owns 4,179,380 shares of the company’s stock valued at $40,038,000 after purchasing an additional 528,951 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of ACHR stock opened at $8.87 on Friday. The firm has a fifty day simple moving average of $8.11 and a 200-day simple moving average of $9.54. The company has a market capitalization of $5.78 billion, a PE ratio of -7.04 and a beta of 3.10. Archer Aviation has a twelve month low of $5.48 and a twelve month high of $14.62. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Equities research analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.