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

Shares of Archer Aviation Inc. (NYSE:ACHR) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.1429.

Several equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Canaccord Genuity Group lifted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Wednesday, January 14th. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st.

Archer Aviation Stock Performance

NYSE:ACHR opened at $6.99 on Thursday. The stock has a market capitalization of $4.55 billion, a P/E ratio of -5.55 and a beta of 3.11. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation has a 1 year low of $5.48 and a 1 year high of $14.62. The firm has a 50 day moving average of $8.09 and a 200-day moving average of $9.11.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the sale, the insider owned 334,632 shares in the company, valued at $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Priya Gupta sold 5,479 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares in the company, valued at $1,209,807.27. This trade represents a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 307,635 shares of company stock worth $2,367,936. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. AlphaQuest LLC lifted its position in Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation during the third quarter worth approximately $29,000. Bank of Jackson Hole Trust lifted its holdings in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after buying an additional 986 shares during the period. Geneos Wealth Management Inc. boosted its stake in 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 acquiring an additional 1,702 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in Archer Aviation during the 3rd quarter worth $33,000. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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.