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

Shares of Archer Aviation Inc. (NYSE:ACHR) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.61.

Several research analysts have recently commented on the company. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC raised their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares of the company’s stock, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,046,926 shares of company stock valued at $8,695,783 in the last quarter. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth $26,000. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation in the 4th quarter worth $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $29,000. Harbour Investments Inc. raised its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Finally, Oarsman Capital Inc. raised its stake in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 1.8 %

NYSE:ACHR opened at $8.13 on Thursday. The company has a market cap of $3.46 billion, a PE ratio of -6.16 and a beta of 3.13. The business’s 50 day moving average is $9.50 and its two-hundred day moving average is $6.34. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, analysts predict that Archer Aviation will post -1.32 EPS for the current year.

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.