Archer Aviation Inc. (NYSE:ACHR) Receives $8.25 Consensus PT from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.25.

A number of analysts have commented on ACHR shares. Barclays dropped their price target on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Tuesday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a report on Tuesday.

Get Our Latest Stock Report on ACHR

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis bought 800,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $5.36 per share, with a total value of $4,288,000.00. Following the completion of the transaction, the insider now directly owns 37,851,720 shares in the company, valued at approximately $202,885,219.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 3,150,000 shares of company stock valued at $15,724,500 over the last ninety days. Corporate insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vestor Capital LLC purchased a new position in Archer Aviation during the fourth quarter valued at approximately $61,000. Teacher Retirement System of Texas purchased a new position in Archer Aviation during the third quarter valued at approximately $51,000. Janney Montgomery Scott LLC purchased a new position in Archer Aviation during the third quarter valued at approximately $52,000. Tidal Investments LLC purchased a new position in Archer Aviation during the first quarter valued at approximately $49,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Archer Aviation during the third quarter valued at approximately $55,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 3.9 %

ACHR stock opened at $3.29 on Friday. Archer Aviation has a 52 week low of $2.79 and a 52 week high of $7.49. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.02 and a beta of 2.45. The firm’s 50-day moving average is $4.14 and its two-hundred day moving average is $5.05. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHRGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the prior year, the company posted ($0.46) EPS. On average, analysts forecast that Archer Aviation will post -1.45 earnings per share for the current fiscal year.

About Archer Aviation

(Get Free Report

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

Further Reading

Analyst Recommendations for Archer Aviation (NYSE:ACHR)

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