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

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.8333.

A number of research analysts have recently weighed in on the stock. 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 report on Tuesday, March 3rd. Canaccord Genuity Group lowered their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th.

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Key Stories Impacting Archer Aviation

Here are the key news stories impacting Archer Aviation this week:

Archer Aviation Stock Down 2.1%

ACHR stock opened at $5.44 on Wednesday. Archer Aviation has a 12-month low of $4.80 and a 12-month high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -4.94 and a beta of 3.14. The company has a 50 day moving average of $5.98 and a two-hundred day moving average of $6.87.

Archer Aviation (NYSE:ACHRGet Free Report) last released 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 business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same period last year, the firm posted ($0.17) EPS. On average, equities analysts anticipate that Archer Aviation will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the transaction, the chief financial officer directly owned 189,050 shares in the company, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after buying an additional 1,220 shares during the period. Clear Creek Financial Management LLC increased its position in Archer Aviation by 2.9% in the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after buying an additional 1,254 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in Archer Aviation by 8.2% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock worth $160,000 after purchasing an additional 1,268 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares during the last quarter. Finally, Meridian Investment Counsel Inc. grew its position in Archer Aviation by 3.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock worth $331,000 after purchasing an additional 1,440 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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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.

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Analyst Recommendations for Archer Aviation (NYSE:ACHR)

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