Archer Aviation Inc. (NYSE:ACHR) Receives $12.71 Average Price Target from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.50.

ACHR has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research report on Monday. They issued a “neutral” rating and a $11.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. lowered their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th.

Archer Aviation Stock Up 8.9%

Archer Aviation stock opened at $8.33 on Friday. Archer Aviation has a 1-year low of $5.48 and a 1-year high of $14.62. The business has a fifty day moving average price of $9.86 and a 200-day moving average price of $10.03. 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 capitalization of $5.43 billion, a price-to-earnings ratio of -6.61 and a beta of 3.10.

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

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction that occurred 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 directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the sale, the insider owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its position in Archer Aviation by 77.8% during the third quarter. Allworth Financial LP now owns 5,225 shares of the company’s stock valued at $50,000 after purchasing an additional 2,286 shares during the period. IFP Advisors Inc raised its stake in shares of Archer Aviation by 47.3% during the 3rd quarter. IFP Advisors Inc now owns 12,612 shares of the company’s stock valued at $122,000 after buying an additional 4,050 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Archer Aviation by 71.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 24,214 shares of the company’s stock valued at $232,000 after buying an additional 10,109 shares during the period. Cantor Fitzgerald L. P. lifted its holdings in shares of Archer Aviation by 395.3% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 44,300 shares of the company’s stock valued at $424,000 after buying an additional 59,300 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Archer Aviation in the third quarter worth about $563,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.