Archer Aviation Inc. (NYSE:ACHR) Receives $13.43 Consensus PT from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.7143.

Several analysts recently issued reports on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Canaccord Genuity Group reiterated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Monday, October 27th. Finally, Needham & Company LLC decreased their price objective on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday.

Insider Buying and Selling

In other news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Lentell sold 48,936 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $481,040.88. Following the transaction, the insider directly owned 47,518 shares in the company, valued at $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 188,068 shares of company stock valued at $1,848,708 in the last 90 days. Insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Jackson Hole Trust boosted 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 worth $30,000 after acquiring an additional 986 shares during the period. Farther Finance Advisors LLC boosted its stake in Archer Aviation by 45.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after purchasing an additional 1,106 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after buying an additional 1,107 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Archer Aviation by 0.7% during the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock valued at $1,837,000 after buying an additional 1,211 shares during the period. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after buying an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 7.7%

NYSE ACHR opened at $8.20 on Tuesday. Archer Aviation has a one year low of $3.49 and a one year high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The business has a 50 day simple moving average of $10.29 and a 200 day simple moving average of $10.24. The stock has a market capitalization of $5.29 billion, a P/E ratio of -6.50 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Research analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

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.