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

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are 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 assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $11.8333.

ACHR has been the topic of a number of research reports. Needham & Company LLC cut their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 54,786 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $353,917.56. Following the completion of the sale, the insider directly owned 377,022 shares in the company, valued at approximately $2,435,562.12. The trade was a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $611,923.50. Following the completion of the transaction, the chief technology officer directly owned 1,345,430 shares in the company, valued at $8,691,477.80. This trade represents a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 502,739 shares of company stock worth $3,124,236 in the last ninety days. 7.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Vanguard Group Inc. grew its holdings in Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after buying an additional 16,452,398 shares in the last quarter. Norges Bank bought a new position in Archer Aviation during the 4th quarter valued at $58,494,000. Man Group plc boosted its holdings in Archer Aviation by 13,793.3% during 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 holdings 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 acquiring an additional 4,146,574 shares during the last quarter. Finally, ARK Investment Management LLC grew its stake in shares of Archer Aviation by 12.4% in 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. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Trading Up 3.6%

Shares of ACHR stock opened at $6.34 on Friday. Archer Aviation has a 52-week low of $4.80 and a 52-week high of $14.62. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -5.76 and a beta of 3.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The firm has a fifty day moving average of $5.85 and a 200-day moving average of $7.13.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the business earned ($0.17) EPS. On average, equities research analysts forecast that Archer Aviation will post -1.51 earnings per share for the current fiscal year.

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.