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

Shares of Archer Aviation Inc. (NYSE:ACHR) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.4286.

A number of research analysts have issued reports on ACHR shares. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th.

Archer Aviation Stock Up 1.5%

Shares of Archer Aviation stock opened at $12.65 on Friday. The stock has a market capitalization of $8.16 billion, a P/E ratio of -9.37 and a beta of 3.06. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $9.69 and a two-hundred day moving average price of $9.63. Archer Aviation has a 12-month low of $2.85 and a 12-month high of $13.92.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Equities analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the sale, the insider owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the sale, the chief financial officer directly owned 147,153 shares in the company, valued at $1,446,513.99. This trade represents a 6.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in ACHR. Allworth Financial LP increased its holdings in Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after purchasing an additional 1,664 shares in the last quarter. Strs Ohio purchased a new position in Archer Aviation in the first quarter worth $27,000. Tidemark LLC grew its position in Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares during the last quarter. AlphaQuest LLC grew its position in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Archer Aviation in the 1st quarter valued at approximately $31,000. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

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.