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

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.8333.

Several research firms have issued reports on ACHR. Canaccord Genuity Group cut their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Needham & Company LLC cut their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 9,860 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $58,667.00. Following the completion of the sale, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the sale, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. 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 ninety days, insiders have sold 250,743 shares of company stock valued at $1,497,672. Corporate insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Archer Aviation by 7.0% during the fourth 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 last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Archer Aviation by 2.9% during the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after buying an additional 1,254 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in shares of Archer Aviation by 8.2% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock valued at $160,000 after buying an additional 1,268 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings 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 valued at $98,000 after buying an additional 1,373 shares during the last quarter. Finally, Meridian Investment Counsel Inc. grew its holdings in shares of Archer Aviation by 3.4% during the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock valued at $331,000 after buying an additional 1,440 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Stock Performance

NYSE ACHR opened at $5.26 on Wednesday. The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $6.78. 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 12-month low of $4.80 and a 12-month high of $14.62. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -4.78 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the firm posted ($0.17) EPS. On average, equities analysts forecast that Archer Aviation will post -1.47 EPS for the current year.

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.