Archer Aviation Inc. (NYSE:ACHR) Receives $12.14 Consensus PT from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.1429.

Several brokerages have recently weighed in on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group increased their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th.

Insiders Place Their Bets

In related news, insider Eric Lentell sold 41,490 shares of the firm’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 $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares in the company, valued at $627,160.17. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 307,635 shares of company stock worth $2,367,936. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. increased its holdings in shares of Archer Aviation by 45.8% in the 3rd quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after acquiring an additional 16,452,398 shares during the period. Norges Bank acquired a new stake in Archer Aviation in the 4th quarter valued at about $58,494,000. Man Group plc increased its stake in shares of Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after acquiring an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after buying an additional 4,146,574 shares during the period. Finally, ARK Investment Management LLC lifted its stake in Archer Aviation by 12.4% during the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after acquiring an additional 3,869,252 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Up 0.2%

ACHR opened at $6.78 on Thursday. The company’s 50-day moving average price is $8.01 and its two-hundred day moving average price is $9.06. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of -5.38 and a beta of 3.11. Archer Aviation has a twelve month low of $5.48 and a twelve month high of $14.62.

Archer Aviation Company Profile

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.