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

Archer Aviation Inc. (NYSE:ACHR) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.00.

A number of equities analysts recently commented on ACHR shares. Needham & Company LLC reduced their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st.

Archer Aviation Stock Up 3.7%

NYSE ACHR opened at $5.41 on Friday. The business has a fifty day moving average price of $6.62 and a 200 day moving average price of $8.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The company has a market cap of $4.02 billion, a P/E ratio of -5.46 and a beta of 3.24. Archer Aviation has a one year low of $4.80 and a one year high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The business’s revenue was up 29900.0% on a year-over-year basis. Research analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Priya Gupta sold 7,263 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $45,539.01. Following the sale, the chief financial officer owned 178,512 shares of the company’s stock, valued at approximately $1,119,270.24. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $60,066.60. Following the completion of the transaction, the chief technology officer owned 1,352,208 shares of the company’s stock, valued at $8,478,344.16. This trade represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 255,750 shares of company stock valued at $1,645,333 over the last quarter. 7.65% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently modified their holdings of ACHR. Vanguard Group Inc. lifted its holdings in shares of Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after purchasing an additional 2,312,899 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Archer Aviation by 12.4% during the fourth 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 during the last quarter. State Street Corp increased its holdings in shares of Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after acquiring an additional 3,293,130 shares during the period. Morgan Stanley raised its position in Archer Aviation by 21.6% in the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after purchasing an additional 2,796,488 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after purchasing an additional 1,867,648 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.