Archer Aviation Inc. (NYSE:ACHR) Receives $12.50 Average PT from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.19.

Several analysts have recently commented on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price target on shares of Archer Aviation in a research note on Friday, May 16th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a research note on Monday. Finally, Raymond James raised their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st.

Insiders Place Their Bets

In other Archer Aviation news, CFO Mark Mesler sold 34,498 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares in the company, valued at approximately $4,641,873.28. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $171,597.90. Following the sale, the chief financial officer now owns 134,104 shares in the company, valued at approximately $1,742,010.96. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 451,859 shares of company stock worth $4,627,418. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC raised its holdings in shares of Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC increased its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after buying an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares during the last quarter. Finally, Xponance Inc. increased its stake in Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock valued at $162,000 after buying an additional 1,299 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

ACHR opened at $12.19 on Friday. Archer Aviation has a one year low of $2.82 and a one year high of $13.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company’s 50 day simple moving average is $9.19 and its 200-day simple moving average is $8.91. The stock has a market capitalization of $6.69 billion, a P/E ratio of -9.23 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. Sell-side analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Archer Aviation Company Profile

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.