Archer Aviation Inc. (NYSE:ACHR) Given Average Recommendation of “Hold” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given a consensus rating of “Hold” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five 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 $11.50.

A number of equities analysts have commented on the stock. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. Barclays raised Archer Aviation to a “hold” rating in a report on Wednesday, July 29th. Finally, HC Wainwright restated 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 news, CFO Priya Gupta sold 10,015 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the transaction, the chief financial officer directly owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Eric Lentell sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the insider directly owned 85,011 shares of the company’s stock, valued at $536,419.41. The trade was a 54.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 180,411 shares of company stock valued at $1,141,141 in the last three months. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. AQR Capital Management LLC acquired a new stake in shares of Archer Aviation in the 1st quarter valued at about $293,000. Integrated Wealth Concepts LLC grew its stake in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Archer Aviation by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC raised its stake in Archer Aviation by 5.1% during the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Archer Aviation by 51.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $5.78 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. Archer Aviation has a 1-year low of $4.30 and a 1-year high of $14.62. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -5.35 and a beta of 3.20. The business has a 50-day moving average of $5.34 and a 200-day moving average of $5.84.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. On average, equities analysts anticipate that Archer Aviation will post -1.37 EPS for the current fiscal 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.