Archer Aviation (NYSE:ACHR) Stock Bumped Up to "Overweight" by Barclays

Key Points

• Barclays upgraded Archer Aviation to “overweight” from “equal weight” and raised its price target to $8.00 from $4.50, implying 68.95% upside from the stock’s current price.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $11.00.
• Archer reported a quarterly loss of $0.34 per share, in line with estimates, while revenue of $5.0 million exceeded the $1.94 million consensus. Insiders sold 176,657 shares worth about $1.12 million over the past 90 days.

Archer Aviation (NYSE:ACHR - Get Free Report) was upgraded by Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a $8.00 price target on the stock, up from their previous price target of $4.50. Barclays's price objective points to a potential upside of 68.95% from the stock's current price.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a report on Friday, July 17th. Wells Fargo & Company set a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. UBS Group reiterated an "overweight" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, HC Wainwright reissued a "buy" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.00.

Archer Aviation Trading Up 1.4%

Shares of Archer Aviation stock opened at $4.74 on Friday. The company has a market capitalization of $3.65 billion, a P/E ratio of -4.38 and a beta of 3.27. The stock has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $5.58. Archer Aviation has a 12-month low of $4.30 and a 12-month high of $14.62. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, sell-side analysts anticipate that Archer Aviation will post -1.37 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the transaction, the insider owned 85,011 shares in the company, valued at approximately $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the sale, the chief financial officer directly owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 176,657 shares of company stock worth $1,122,371 in the last ninety days. Company insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently modified their holdings of the stock. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock valued at $27,000 after purchasing an additional 2,507 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Archer Aviation by 979.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company's stock worth $32,000 after buying an additional 3,888 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Archer Aviation by 189.3% in the third quarter. GAMMA Investing LLC now owns 6,272 shares of the company's stock valued at $31,000 after buying an additional 4,104 shares during the period. Anchor Investment Management LLC raised its stake in shares of Archer Aviation by 48.9% in the fourth quarter. Anchor Investment Management LLC now owns 7,809 shares of the company's stock valued at $59,000 after buying an additional 2,565 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Archer Aviation by 59.4% during the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company's stock valued at $45,000 after buying an additional 3,275 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company's primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.

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