Archer Aviation Inc. (NYSE:ACHR) Receives $12.14 Consensus PT from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.1429.

A number of analysts have recently issued reports on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. JPMorgan Chase & Co. lowered their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Needham & Company LLC dropped their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Canaccord Genuity Group increased their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st.

Insider Buying and Selling

In other news, insider Eric Lentell sold 41,490 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the completion of the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 182,635 shares of company stock worth $1,367,936 over the last ninety days. Company insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Jackson Hole Trust boosted its position in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after buying an additional 986 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after acquiring an additional 1,106 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after acquiring an additional 1,107 shares in the last quarter. Moody National Bank Trust Division grew its position in Archer Aviation by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after acquiring an additional 1,211 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $7.89 on Wednesday. Archer Aviation has a 12-month low of $5.48 and a 12-month high of $14.62. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -6.26 and a beta of 3.10. The business has a 50 day simple moving average of $8.77 and a 200 day simple moving average of $9.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). On average, equities research analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.