Archer Aviation Inc. (NYSE:ACHR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.63.

A number of equities analysts have issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Archer Aviation Trading Up 12.7 %

Shares of ACHR opened at $9.49 on Friday. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $10.58. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $5.48 and its 200-day moving average price is $4.29. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. Sell-side analysts anticipate that Archer Aviation will post -1.28 EPS for the current year.

Insider Activity

In related news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Spellacy sold 191,513 shares of Archer Aviation stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total value of $1,915,130.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Tidal Investments LLC raised its stake in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Archer Aviation during the third quarter valued at $80,000. Barclays PLC lifted its holdings in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after acquiring an additional 312,440 shares during the period. Geode Capital Management LLC boosted its position in Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after purchasing an additional 268,896 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at about $583,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.