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

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.8333.

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group reduced their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th.

Insider Buying and Selling

In other news, CAO Harsh Rungta sold 22,826 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the transaction, the chief accounting officer directly owned 65,458 shares in the company, valued at $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $611,923.50. Following the completion of the sale, the chief technology officer owned 1,345,430 shares of the company’s stock, valued at $8,691,477.80. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 502,739 shares of company stock valued at $3,124,236 over the last ninety days. Insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the business. Gould Capital LLC increased its holdings in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after buying an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation in the 3rd quarter worth about $29,000. Finally, Modus Advisors LLC bought a new stake in Archer Aviation in the 4th quarter worth about $29,000. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $6.53 on Friday. Archer Aviation has a 1-year low of $4.80 and a 1-year high of $14.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The business has a fifty day moving average price of $5.87 and a 200-day moving average price of $7.05. The company has a market capitalization of $4.96 billion, a PE ratio of -5.94 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the previous year, the firm earned ($0.17) EPS. As a group, equities analysts expect that Archer Aviation will post -1.51 EPS for the current fiscal year.

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.