Archer Aviation Inc. (ACHR) – What Are Researchers Thinking About This Stock?

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of equities analysts have issued reports on ACHR shares. Wells Fargo & Company set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Thursday. Barclays upgraded shares of Archer Aviation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $4.50 to $8.00 in a research report on Friday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CAO Harsh Rungta sold 13,880 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the completion of the transaction, the chief accounting officer owned 110,847 shares of the company’s stock, valued at approximately $710,529.27. This trade represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, the chief financial officer directly owned 202,784 shares of the company’s stock, valued at $1,299,845.44. The trade was a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 176,657 shares of company stock worth $1,122,371. 5.55% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Archer Aviation by 33.2% during the 1st quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock worth $11,048,000 after purchasing an additional 532,762 shares in the last quarter. California State Teachers Retirement System raised its stake in Archer Aviation by 21.0% in the 1st quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock valued at $3,702,000 after purchasing an additional 124,052 shares during the last quarter. SummitTX Capital L.P. acquired a new position in Archer Aviation in the 1st quarter valued at about $709,000. Fifth Third Bancorp lifted its holdings in Archer Aviation by 4,133.1% in the 1st quarter. Fifth Third Bancorp now owns 142,868 shares of the company’s stock valued at $739,000 after purchasing an additional 139,493 shares in the last quarter. Finally, Odyssean LLC lifted its holdings in Archer Aviation by 707.0% in the 2nd quarter. Odyssean LLC now owns 260,940 shares of the company’s stock valued at $1,234,000 after purchasing an additional 228,606 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $4.05 on Tuesday. Archer Aviation has a 52 week low of $3.97 and a 52 week high of $12.13. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $5.48 and its 200 day simple moving average is $5.53. The firm has a market capitalization of $3.12 billion, a PE ratio of -3.75 and a beta of 3.27.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $1.94 million. On average, equities research analysts predict that Archer Aviation will post -1.37 EPS for the current fiscal year.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company’s primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.