Archer Aviation Inc. (NYSE:ACHR) Receives $11.38 Average PT from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.38.

A number of research firms have issued reports on ACHR. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group boosted their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th.

Insider Activity

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its holdings 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 acquiring an additional 1,246 shares during the last quarter. Amalgamated Bank increased its position in Archer Aviation by 50.7% during the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after purchasing an additional 2,680 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the period. Townsquare Capital LLC lifted its stake in shares of Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares during the last quarter. Finally, PFG Investments LLC lifted its position in Archer Aviation by 16.3% in the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock valued at $223,000 after buying an additional 3,192 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 0.1 %

Shares of NYSE ACHR opened at $9.19 on Friday. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48. 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 stock has a market cap of $3.91 billion, a P/E ratio of -6.96 and a beta of 3.14. The firm has a 50-day moving average of $9.16 and a 200 day moving average of $5.62.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the firm earned ($0.19) EPS. As a group, sell-side analysts expect that Archer Aviation will post -1.31 EPS for the current fiscal 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.