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

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.00.

A number of analysts have commented on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. 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.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 10,949 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $68,650.23. Following the sale, the insider directly owned 384,768 shares of the company’s stock, valued at $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Thomas Paul Muniz sold 9,580 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $60,066.60. Following the sale, the chief technology officer directly owned 1,352,208 shares in the company, valued at approximately $8,478,344.16. This trade represents a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 255,750 shares of company stock valued at $1,645,333. Insiders own 7.65% 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 ACHR. Gould Capital LLC lifted its holdings in shares of Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio bought a new position in Archer Aviation during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after acquiring an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation during the third quarter valued at approximately $29,000. Finally, Modus Advisors LLC bought a new position in shares of Archer Aviation in the fourth quarter worth approximately $29,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Up 3.6%

Archer Aviation stock opened at $5.91 on Tuesday. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. Archer Aviation has a 12-month low of $4.80 and a 12-month high of $14.62. The firm’s fifty day moving average is $6.10 and its 200 day moving average is $7.76. The company has a market capitalization of $4.40 billion, a PE ratio of -5.96 and a beta of 3.24.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The business’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, sell-side analysts predict that Archer Aviation will post -1.51 EPS 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.