Analysts Set Archer Aviation Inc. (NYSE:ACHR) Price Target at $11.50

Shares of Archer Aviation Inc. (NYSE:ACHR) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.50.

Several research firms have recently weighed in on ACHR. UBS Group reissued an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price target on Archer Aviation in a research report on Tuesday, August 11th. Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th.

Archer Aviation Stock Up 0.2%

Shares of NYSE ACHR opened at $5.72 on Monday. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. Archer Aviation has a 12-month low of $4.30 and a 12-month high of $14.62. The firm’s 50-day moving average price is $5.41 and its 200-day moving average price is $5.80. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.30 and a beta of 3.23.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, equities research analysts anticipate that Archer Aviation will post -1.37 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $6.31, for a total value of $631,000.00. Following the sale, the insider directly owned 85,011 shares of the company’s stock, valued at $536,419.41. This represents a 54.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the sale, the chief financial officer directly owned 202,784 shares of the company’s stock, valued at approximately $1,299,845.44. The trade was a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 180,411 shares of company stock worth $1,141,141. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Archer Aviation by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the period. ARK Investment Management LLC grew its holdings in shares of Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. State Street Corp increased its stake in Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after buying an additional 3,293,130 shares during the period. Morgan Stanley increased its stake in Archer Aviation by 21.6% in the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $108,197,000 after buying an additional 1,867,648 shares in the last quarter. 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.