Canaccord Genuity Group Issues Pessimistic Forecast for Archer Aviation (NYSE:ACHR) Stock Price

Key Points

• Canaccord Genuity cut its Archer Aviation price target from $12 to $9.50 but maintained a Buy rating; the new target implies about 96% upside from the prior close.
• Analyst views remain generally positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $10.58, despite several firms lowering their targets.
• Archer reported a quarterly loss of $0.35 per share, slightly worse than the $0.34 expected, while revenue of $5.1 million exceeded estimates of $3.57 million.

Archer Aviation (NYSE:ACHR - Get Free Report) had its price target lowered by stock analysts at Canaccord Genuity Group from $12.00 to $9.50 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 96.48% from the company's previous close.

A number of other brokerages have also issued reports on ACHR. UBS Group restated an "overweight" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald dropped their price target on shares of Archer Aviation from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday. HC Wainwright reiterated a "buy" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Needham & Company LLC reduced their price target on Archer Aviation from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a research note on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.58.

Archer Aviation Stock Performance

ACHR traded up $0.12 on Wednesday, reaching $4.83. The company had a trading volume of 18,948,083 shares, compared to its average volume of 34,552,711. Archer Aviation has a fifty-two week low of $3.62 and a fifty-two week high of $9.29. The stock has a market cap of $3.72 billion, a P/E ratio of -3.93 and a beta of 3.59. The company's fifty day moving average is $4.83 and its 200 day moving average is $5.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Archer Aviation had a negative return on equity of 44.78% and a negative net margin of 7,869.17%. The firm had revenue of $5.10 million for the quarter, compared to analyst estimates of $3.57 million. During the same period in the previous year, the business posted ($0.20) earnings per share. As a group, analysts predict that Archer Aviation will post -1.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, CAO Harsh Rungta sold 13,880 shares of Archer Aviation stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $88,970.80. Following the transaction, the chief accounting officer owned 110,847 shares in the company, valued at approximately $710,529.27. This trade represents a 11.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 100,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider directly owned 85,011 shares of the company's stock, valued at $536,419.41. This trade represents a 54.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 176,657 shares of company stock valued at $1,122,371. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Voya Investment Management LLC increased its position in Archer Aviation by 48.2% during the 3rd quarter. Voya Investment Management LLC now owns 10,118,847 shares of the company's stock worth $50,291,000 after purchasing an additional 3,289,910 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Archer Aviation by 7.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,072,347 shares of the company's stock worth $40,120,000 after buying an additional 549,998 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Archer Aviation by 703.3% during the first quarter. Renaissance Technologies LLC now owns 2,514,300 shares of the company's stock worth $12,999,000 after buying an additional 2,201,300 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Archer Aviation during the second quarter worth $10,190,000. Finally, Bank of America Corp DE increased its holdings in shares of Archer Aviation by 33.2% during the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company's stock worth $11,048,000 after buying an additional 532,762 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Recent Archer Aviation Headlines

These are some of the ACHR headlines that stood out recently:

• Positive Sentiment: ARK Invest, led by Cathie Wood, bought about $6.3 million of Archer shares, signaling confidence in the company’s longer-term eVTOL opportunity. Cathie Wood Just Bought $6.3 Million of Archer Aviation Stock
• Positive Sentiment: Archer received an FAA market survey certificate for its Midnight aircraft, enabling piloted operations in Los Angeles. The company says it is advancing toward passenger service targeted for 2027 and has been selected as the official air taxi operator for the 2028 Olympics. This is a milestone, but not full type certification or authorization for regular passenger service. Archer Aviation's FAA Certificate Is a Milestone, But It Isn't the Final One
• Negative Sentiment: Archer’s Q3 loss per share was $0.35, slightly worse than the $0.34 expected, and losses widened year over year. The results underscore the company’s substantial spending before commercial operations begin, weighing against the revenue beat and certification progress. Archer Aviation Stock Price Faces Q3 Results Cash Burn Question

About Archer Aviation

Archer Aviation is an aerospace company based in San Jose, California, that develops electric vertical takeoff and landing (eVTOL) aircraft and related services. Its aircraft are designed for short passenger trips, including potential air taxi routes between urban areas and nearby airports. The company's primary aircraft is Midnight, a piloted eVTOL designed to carry four passengers and a pilot. Archer is working to bring the aircraft to commercial service, subject to regulatory approvals, and is pursuing operations in the United States and international markets.

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