Archer Aviation Inc. (NYSE:ACHR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Archer Aviation Inc. (NYSE:ACHR) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings 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 brokers that have covered the stock in the last year is $11.61.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Needham & Company LLC boosted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th.

Archer Aviation Trading Up 2.5 %

Archer Aviation stock opened at $7.23 on Friday. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48. The stock has a 50-day moving average price of $7.98 and a 200 day moving average price of $7.24. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -5.47 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share 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 year.

Insider Activity

In related news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock worth $3,158,081 over the last ninety days. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACHR. Janney Montgomery Scott LLC raised its position in Archer Aviation by 64.2% in the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company’s stock valued at $581,000 after purchasing an additional 31,933 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Archer Aviation during the first quarter worth about $176,000. Matauro LLC grew its holdings in shares of Archer Aviation by 3.6% in the first quarter. Matauro LLC now owns 435,962 shares of the company’s stock valued at $3,100,000 after purchasing an additional 15,051 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in Archer Aviation by 57.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company’s stock worth $38,000 after buying an additional 1,950 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Archer Aviation in the first quarter worth $1,437,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.