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

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.25.

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Canaccord Genuity Group increased their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday. Finally, HC Wainwright initiated coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company.

Insiders Place Their Bets

In related news, Director Deborah Diaz bought 5,150 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,571,386 shares valued at $9,236,577. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P purchased a new stake in shares of Archer Aviation in the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. raised its position in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after buying an additional 254,460 shares in the last quarter. Finally, Sora Investors LLC bought a new position in Archer Aviation in the 3rd quarter worth $3,429,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Trading Up 17.2 %

Archer Aviation stock opened at $8.40 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $9.84. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -6.36 and a beta of 3.19. The business’s fifty day simple moving average is $4.89 and its two-hundred day simple moving average is $4.09. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the company posted ($0.19) EPS. As a group, equities analysts predict that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

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.