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

Shares of Archer Aviation Inc. (NYSE:ACHR) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.1429.

ACHR has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction on 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 sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Priya Gupta sold 5,479 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 $41,037.71. Following the completion of the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 307,635 shares of company stock worth $2,367,936. Insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Balboa Wealth Partners raised its position in shares of Archer Aviation by 90.7% in the 4th quarter. Balboa Wealth Partners now owns 23,450 shares of the company’s stock worth $176,000 after buying an additional 11,150 shares during the period. Capital Advisors Inc. OK purchased a new stake in shares of Archer Aviation during the 4th quarter worth about $117,000. Nikulski Financial Inc. acquired a new position in Archer Aviation during the fourth quarter valued at approximately $367,000. Spire Wealth Management increased its position in shares of Archer Aviation by 39.7% in the fourth quarter. Spire Wealth Management now owns 9,706 shares of the company’s stock worth $73,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Archer Aviation by 91.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 15,749 shares of the company’s stock valued at $118,000 after acquiring an additional 7,529 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of ACHR opened at $8.87 on Friday. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $9.54. The firm has a market capitalization of $5.78 billion, a price-to-earnings 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.

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