Archer Aviation Inc. (NYSE:ACHR) Receives $9.33 Consensus Target Price from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $9.33.

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

Archer Aviation Trading Up 14.3 %

Archer Aviation stock opened at $5.79 on Tuesday. The stock has a market cap of $2.46 billion, a PE ratio of -4.39 and a beta of 2.29. The stock has a 50-day moving average price of $3.37 and a 200 day moving average price of $3.63. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $7.01. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In related news, CEO Adam D. Goldstein purchased 19,762 shares of Archer Aviation stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the transaction, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Archer Aviation by 272.7% in the third 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. Geode Capital Management LLC increased its stake in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after acquiring an additional 268,896 shares during the period. Main Management ETF Advisors LLC bought a new stake in Archer Aviation during the third quarter worth approximately $583,000. XTX Topco Ltd bought a new stake in Archer Aviation during the third quarter worth approximately $397,000. Finally, EP Wealth Advisors LLC boosted its holdings in Archer Aviation by 50.0% during the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.