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

Archer Aviation Inc. (NYSE:ACHR) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.00.

ACHR has been the subject of several recent research reports. Needham & Company LLC cut their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th.

Archer Aviation Price Performance

NYSE:ACHR opened at $5.75 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -5.80 and a beta of 3.13. The company has a 50 day moving average price of $6.02 and a 200-day moving average price of $7.62. Archer Aviation has a 1-year low of $4.80 and a 1-year high of $14.62.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The firm’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Equities research analysts forecast that Archer Aviation will post -1.51 EPS for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 54,786 shares of Archer Aviation stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $353,917.56. Following the completion of the transaction, the insider directly owned 377,022 shares of the company’s stock, valued at $2,435,562.12. The trade was a 12.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of the business’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 sale, the chief accounting officer directly owned 65,458 shares of the company’s stock, valued at approximately $422,858.68. The trade was a 25.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 255,750 shares of company stock worth $1,645,333. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. increased its holdings in Archer Aviation by 45.8% in the 3rd quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after acquiring an additional 16,452,398 shares in the last quarter. Norges Bank purchased a new stake in Archer Aviation in the 4th quarter worth $58,494,000. Man Group plc increased its holdings in Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after acquiring an additional 4,182,400 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Archer Aviation by 423.3% in the 4th quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after acquiring an additional 4,146,574 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Archer Aviation by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after acquiring an additional 3,869,252 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.