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

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $12.7143.

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

Archer Aviation Stock Up 4.5%

Shares of Archer Aviation stock opened at $7.83 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. Archer Aviation has a 52-week low of $5.48 and a 52-week high of $14.62. The company’s 50 day moving average price is $9.98 and its 200-day moving average price is $10.13. The stock 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 posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Equities research analysts forecast that Archer Aviation will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 41,490 shares of Archer Aviation 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 $310,760.10. Following the sale, the insider directly owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 90,648 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $678,953.52. Following the transaction, the chief technology officer directly owned 1,397,129 shares of the company’s stock, valued at $10,464,496.21. This represents a 6.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 over the last quarter. Insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in Archer Aviation by 13.6% during the first quarter. CWM LLC now owns 12,133 shares of the company’s stock worth $86,000 after acquiring an additional 1,451 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Archer Aviation by 37.0% in the 1st quarter. Victory Capital Management Inc. now owns 49,121 shares of the company’s stock worth $349,000 after purchasing an additional 13,259 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Archer Aviation by 67.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,136 shares of the company’s stock worth $755,000 after buying an additional 42,661 shares during the last quarter. LPL Financial LLC increased its position in Archer Aviation by 30.6% during the 1st quarter. LPL Financial LLC now owns 360,964 shares of the company’s stock valued at $2,566,000 after buying an additional 84,522 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Archer Aviation by 148.3% during the 1st quarter. Harbour Investments Inc. now owns 7,689 shares of the company’s stock valued at $55,000 after buying an additional 4,592 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.