Archer Aviation Inc. (NYSE:ACHR) Receives $12.14 Average Target Price from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $12.1429.

Several brokerages have recently commented on ACHR. Canaccord Genuity Group raised their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. The Goldman Sachs Group began coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Needham & Company LLC cut their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares in the company, valued at approximately $627,160.17. The trade was a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 90,648 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the sale, the chief technology officer directly owned 1,397,129 shares of the company’s stock, valued at $10,464,496.21. This represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 182,635 shares of company stock valued at $1,367,936 over the last ninety days. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACHR. Strs Ohio purchased a new stake in Archer Aviation in the 1st quarter valued at $27,000. AlphaQuest LLC grew its stake in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the 3rd quarter worth $29,000. Bank of Jackson Hole Trust raised its holdings in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after purchasing an additional 2,024 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $7.55 on Wednesday. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation has a twelve month low of $5.48 and a twelve month high of $14.62. The company has a fifty day moving average of $8.61 and a 200-day moving average of $9.69. The firm has a market capitalization of $4.91 billion, a P/E ratio of -5.99 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). As a group, sell-side analysts anticipate that Archer Aviation will post -1.32 EPS for the current 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.