Archer Aviation Inc. (NYSE:ACHR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given an average recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.8333.

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

Archer Aviation Trading Down 0.8%

ACHR stock opened at $4.46 on Friday. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation has a twelve month low of $4.30 and a twelve month high of $14.62. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -4.05 and a beta of 3.19. The firm’s fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $6.37.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. As a group, analysts anticipate that Archer Aviation will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction 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 transaction, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. This represents a 5.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the completion of the sale, the chief accounting officer owned 87,210 shares in the company, valued at approximately $518,899.50. The trade was a 12.46% decrease in their position. 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. Insiders sold a total of 250,743 shares of company stock valued at $1,497,672 over the last quarter. 5.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACHR. Gould Capital LLC boosted its position in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the period. Strs Ohio bought a new position in Archer Aviation in the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $28,000 after acquiring an additional 3,335 shares during the period. Modus Advisors LLC purchased a new position in shares of Archer Aviation during the fourth quarter worth approximately $29,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $32,000. 59.34% of the stock is currently owned by institutional investors.

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.