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

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

Several analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group raised their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Needham & Company LLC dropped their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. The Goldman Sachs Group initiated coverage on Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th.

Archer Aviation Stock Down 3.2%

NYSE ACHR opened at $8.14 on Wednesday. Archer Aviation has a 1 year low of $5.48 and a 1 year high of $14.62. The stock has a market capitalization of $5.30 billion, a PE ratio of -6.46 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The business’s 50-day moving average is $9.01 and its 200 day moving average is $9.81.

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

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 41,490 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the sale, the insider directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 90,648 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $678,953.52. Following the sale, the chief technology officer directly owned 1,397,129 shares in the company, valued at $10,464,496.21. This trade represents a 6.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 182,635 shares of company stock valued at $1,367,936. Insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of Archer Aviation by 77.8% in the third quarter. Allworth Financial LP now owns 5,225 shares of the company’s stock worth $50,000 after acquiring an additional 2,286 shares during the period. IFP Advisors Inc grew its position in shares of Archer Aviation by 47.3% during the 3rd quarter. IFP Advisors Inc now owns 12,612 shares of the company’s stock valued at $122,000 after acquiring an additional 4,050 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Archer Aviation by 71.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 24,214 shares of the company’s stock worth $232,000 after purchasing an additional 10,109 shares in the last quarter. Cantor Fitzgerald L. P. raised its holdings in Archer Aviation by 395.3% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 44,300 shares of the company’s stock worth $424,000 after purchasing an additional 59,300 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in Archer Aviation in the 3rd quarter worth $563,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.