Archer Aviation Inc. (NYSE:ACHR) Receives $11.83 Average Target Price from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.8333.

Several brokerages have commented on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group lowered their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Needham & Company LLC lowered their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd.

Archer Aviation Trading Down 0.1%

Shares of ACHR stock opened at $6.80 on Friday. Archer Aviation has a 12 month low of $4.80 and a 12 month high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $5.89 and its two-hundred day moving average is $7.04. The company has a market cap of $5.17 billion, a PE ratio of -6.18 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) EPS. Equities analysts predict that Archer Aviation will post -1.47 EPS for the current year.

Insider Buying and Selling

In other news, CFO Priya Gupta sold 9,860 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 10,949 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $68,650.23. Following the completion of the sale, the insider directly owned 384,768 shares of the company’s stock, valued at $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 502,739 shares of company stock valued at $3,124,236 in the last ninety days. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new stake in shares of Archer Aviation in the first quarter valued at approximately $168,000. Western Wealth Management LLC boosted its position in shares of Archer Aviation by 22.0% in the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock valued at $119,000 after acquiring an additional 4,144 shares during the period. Bank of America Corp DE boosted its position in shares of Archer Aviation by 33.2% in the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock valued at $11,048,000 after acquiring an additional 532,762 shares during the period. Amundi boosted its position in shares of Archer Aviation by 134.9% in the first quarter. Amundi now owns 71,397 shares of the company’s stock valued at $369,000 after acquiring an additional 41,008 shares during the period. Finally, California State Teachers Retirement System lifted its position in Archer Aviation by 21.0% in the first quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock worth $3,702,000 after purchasing an additional 124,052 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

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.