Archer Aviation Inc. (NYSE:ACHR) Given Average Rating of “Hold” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.8333.

Several research analysts have weighed in on the stock. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Finally, Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th.

Archer Aviation Stock Down 2.5%

ACHR stock opened at $5.18 on Thursday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -4.71 and a beta of 3.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The business’s 50-day moving average is $5.24 and its two-hundred day moving average is $6.04. Archer Aviation has a fifty-two week low of $4.30 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the company posted ($0.17) EPS. As a group, analysts forecast that Archer Aviation will post -1.4 earnings per share for the current year.

Insider Activity

In related news, CAO Harsh Rungta sold 12,414 shares of the company’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 $73,863.30. Following the completion of the transaction, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This represents a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 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 $546,442.05. Following the completion of the sale, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. The trade was a 5.91% 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. In the last three months, insiders have sold 250,743 shares of company stock valued at $1,497,672. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in ACHR. Farther Finance Advisors LLC boosted 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 valued at $140,000 after buying an additional 1,220 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares during the period. Choreo LLC raised its stake in shares of Archer Aviation by 8.1% during the fourth quarter. Choreo LLC now owns 20,802 shares of the company’s stock valued at $157,000 after acquiring an additional 1,555 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after purchasing an additional 1,738 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.