Archer Aviation Inc. (NYSE:ACHR) Receives $9.33 Consensus Target Price from Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $9.33.

Several research firms recently commented on ACHR. Needham & Company LLC began 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $7.50 on Tuesday. The firm has a fifty day simple moving average of $3.48 and a 200-day simple moving average of $3.66. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $7.90. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -5.68 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the business posted ($0.19) EPS. On average, sell-side analysts expect that Archer Aviation will post -1.2 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC lifted its position in Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after purchasing an additional 9,713 shares during the period. CreativeOne Wealth LLC acquired a new position in Archer Aviation during the 1st quarter valued at about $117,000. Cetera Advisors LLC acquired a new position in Archer Aviation during the 1st quarter valued at about $80,000. CWM LLC lifted its position in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $266,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.