Archer Aviation Inc. (NYSE:ACHR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.50.

Several research analysts have recently issued reports on the company. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Canaccord Genuity Group raised their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th.

Archer Aviation Stock Down 14.4%

Shares of NYSE:ACHR opened at $11.38 on Tuesday. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92. The firm has a market capitalization of $6.25 billion, a P/E ratio of -8.62 and a beta of 3.13. The stock has a 50 day moving average price of $8.23 and a 200-day moving average price of $8.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, equities research analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Eric Lentell sold 45,974 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $597,202.26. Following the transaction, the general counsel now directly owns 95,896 shares in the company, valued at $1,245,689.04. This trade represents a 32.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Priya Gupta sold 13,210 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $171,597.90. Following the completion of the transaction, the chief financial officer now owns 134,104 shares in the company, valued at approximately $1,742,010.96. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 705,844 shares of company stock valued at $6,583,103. Corporate insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC boosted its stake in shares of 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. boosted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Archer Aviation by 58.3% in 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 boosted its stake 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 last quarter. Finally, Xponance Inc. boosted its stake in shares of Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.