Analysts Set Archer Aviation Inc. (NYSE:ACHR) Target Price at $12.00

Archer Aviation Inc. (NYSE:ACHR) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. One investment 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 twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st.

Archer Aviation Stock Performance

Archer Aviation stock opened at $5.41 on Friday. Archer Aviation has a 1-year low of $4.80 and a 1-year high of $14.62. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.02 billion, a PE ratio of -5.46 and a beta of 3.24. The firm’s 50 day simple moving average is $6.56 and its 200 day simple moving average is $8.30.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The firm’s quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, analysts expect that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CFO Priya Gupta sold 10,172 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $65,711.12. Following the transaction, the chief financial officer directly owned 171,754 shares in the company, valued at approximately $1,109,530.84. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 94,725 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $611,923.50. Following the completion of the sale, the chief technology officer directly owned 1,345,430 shares in the company, valued at $8,691,477.80. This represents a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 255,750 shares of company stock valued at $1,645,333 in the last ninety days. Insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently made changes to their positions in ACHR. Gould Capital LLC grew its position in 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 acquiring an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in Archer Aviation during the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its stake 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 worth $28,000 after purchasing an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation in the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC purchased a new position in shares of Archer Aviation in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.