Archer Aviation Inc. (NYSE:ACHR) Receives Average Rating of “Moderate Buy” from Analysts

Archer Aviation Inc. (NYSE:ACHR) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.61.

ACHR has been the topic of a number of recent research reports. Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. 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 note on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th.

Archer Aviation Trading Down 7.6 %

Shares of Archer Aviation stock opened at $7.26 on Monday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The business has a 50-day moving average price of $8.75 and a 200-day moving average price of $6.89.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,985 shares of company stock worth $2,555,685 in the last three months. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the 4th quarter valued at $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation in the fourth quarter valued at about $29,000. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Oarsman Capital Inc. grew its stake in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.