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

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.61.

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $7.26 on Monday. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48. The firm’s 50-day moving average is $8.75 and its 200 day moving average is $6.84. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares of the company’s stock, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,985 shares of company stock valued at $2,555,685. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC raised its position in shares of Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock valued at $156,000 after purchasing an additional 1,000 shares during the period. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after acquiring an additional 1,299 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.