Archer Aviation Inc. (NYSE:ACHR) Receives $12.14 Average Price Target from Analysts

Archer Aviation Inc. (NYSE:ACHR) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.1429.

A number of research firms recently commented on ACHR. JPMorgan Chase & Co. decreased their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. The Goldman Sachs Group initiated coverage on Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Wednesday, January 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th.

Archer Aviation Trading Up 6.5%

Shares of ACHR stock opened at $9.02 on Friday. The business’s fifty day moving average price is $8.13 and its 200 day moving average price is $9.50. The firm has a market capitalization of $5.88 billion, a PE ratio of -7.16 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. Archer Aviation has a 1-year low of $5.48 and a 1-year high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). As a group, sell-side analysts forecast that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the sale, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. This represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 307,635 shares of company stock valued at $2,367,936 over the last 90 days. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the stock. Clear Creek Financial Management LLC acquired a new position in Archer Aviation during the second quarter worth about $465,000. Vestor Capital LLC grew its stake in shares of Archer Aviation by 1,014.7% in the 2nd quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock worth $3,024,000 after purchasing an additional 253,666 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of Archer Aviation by 57.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company’s stock worth $1,242,000 after purchasing an additional 41,800 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Archer Aviation in the 2nd quarter worth approximately $2,389,000. Finally, Handelsbanken Fonder AB acquired a new stake in Archer Aviation during the second quarter valued at approximately $1,324,000. Institutional investors and hedge funds 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.