Archer Aviation Inc. (NYSE:ACHR) Receives Consensus Recommendation of “Hold” from Analysts

Archer Aviation Inc. (NYSE:ACHR) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.50.

Several research firms recently weighed in on ACHR. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Canaccord Genuity Group lowered 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. Barclays raised shares of Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Wells Fargo & Company set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th.

Archer Aviation Stock Up 0.5%

ACHR stock opened at $5.78 on Monday. The company has a 50 day moving average price of $5.34 and a two-hundred day moving average price of $5.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a market capitalization of $4.45 billion, a P/E ratio of -5.35 and a beta of 3.20. Archer Aviation has a one year low of $4.30 and a one year high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). The business had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $1.94 million. As a group, sell-side analysts expect that Archer Aviation will post -1.37 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider directly owned 85,011 shares of the company’s stock, valued at approximately $536,419.41. This trade represents a 54.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the completion of the transaction, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 180,411 shares of company stock worth $1,141,141 in the last quarter. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Vanguard Group Inc. grew its holdings in shares of Archer Aviation by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the period. ARK Investment Management LLC lifted its position in Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after buying an additional 3,869,252 shares in the last quarter. State Street Corp increased its position in shares of Archer Aviation by 11.2% in the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after acquiring an additional 3,293,130 shares in the last quarter. Morgan Stanley increased its position in shares of Archer Aviation by 21.6% in the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after acquiring an additional 2,796,488 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Archer Aviation by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after acquiring an additional 1,867,648 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.