Analysts Set Archer Aviation Inc. (NYSE:ACHR) Target Price at $12.14

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

ACHR has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group boosted their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of the stock in a transaction on Monday, November 17th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was 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 owned 161,523 shares in the company, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 307,635 shares of company stock worth $2,367,936 in the last ninety days. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC raised its holdings in Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after buying an additional 2,375 shares during the period. GAMMA Investing LLC boosted its stake in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after buying an additional 2,024 shares during the period. Johnson Investment Counsel Inc. bought a new position in Archer Aviation during the third quarter valued at $29,000. Bank of Jackson Hole Trust raised its stake in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Trading Down 2.5%

Archer Aviation stock opened at $8.64 on Friday. Archer Aviation has a 1 year low of $5.48 and a 1 year high of $14.62. The firm’s 50 day moving average price is $8.11 and its 200-day moving average price is $9.51. 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 stock has a market cap of $5.63 billion, a P/E ratio of -6.86 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). On average, equities analysts predict that Archer Aviation will post -1.32 earnings per share 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.