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

Archer Aviation Inc. (NYSE:ACHR) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.00.

Several research analysts have recently weighed in on ACHR shares. The Goldman Sachs Group assumed coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC lowered their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th.

Archer Aviation Trading Down 2.9%

ACHR opened at $6.27 on Monday. Archer Aviation has a twelve month low of $5.48 and a twelve month high of $14.62. The company has a fifty day moving average of $7.64 and a 200-day moving average of $8.74. The stock has a market cap of $4.08 billion, a PE ratio of -6.33 and a beta of 3.10. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last released 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 company had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, sell-side analysts predict that Archer Aviation will post -1.32 EPS for the current year.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction 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 transaction, the chief technology officer owned 1,272,129 shares in the company, valued at $10,177,032. The trade was a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Archer Aviation by 45.8% during the 3rd quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after purchasing an additional 16,452,398 shares in the last quarter. Norges Bank bought a new stake in Archer Aviation in the 4th quarter valued at about $58,494,000. Man Group plc increased its position in Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after buying an additional 4,182,400 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Archer Aviation by 423.3% during the 4th 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 raised 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 buying an additional 3,869,252 shares during the period. 59.34% of the stock is owned by 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.