Archer Aviation Inc. (NYSE:ACHR) Receives $11.33 Average Price Target from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.61.

Several research analysts have issued reports on ACHR shares. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group upped their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday. Finally, Raymond James increased their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st.

Archer Aviation Stock Performance

NYSE ACHR opened at $7.87 on Thursday. The company has a fifty day moving average of $9.59 and a two-hundred day moving average of $6.28. The company has a market capitalization of $3.35 billion, a PE ratio of -5.96 and a beta of 3.13. 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 has a 1 year low of $2.82 and a 1 year high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, General Counsel Eric Lentell sold 114,788 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total transaction of $773,671.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares in the company, valued at approximately $10,083,240. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 907,729 shares of company stock worth $7,513,770 over the last 90 days. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

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