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

Key Points

• Archer Aviation has a consensus analyst rating of “Moderate Buy” from eight brokerages, with an average 12-month price target of about $11.83. The coverage includes five buy ratings, two holds, and one sell.
• The company’s latest quarterly results missed expectations, reporting an EPS loss of ($0.28) versus the expected ($0.25), while revenue came in at $1.6 million versus $1.66 million estimated. Analysts still expect Archer to post a full-year EPS of -1.47.
• Shares traded around $4.74, near the stock’s 52-week low of $4.61 and well below its 52-week high of $14.62. Insider selling also continued, including transactions by the CTO and CAO, while institutional investors such as Vanguard and ARK increased their holdings.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.8333.

ACHR has been the topic of several research reports. Canaccord Genuity Group dropped their price target on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th.

Archer Aviation Price Performance

ACHR traded down $0.12 during trading on Friday, reaching $4.74. The stock had a trading volume of 23,726,239 shares, compared to its average volume of 34,243,484. The stock has a 50 day moving average of $5.72 and a two-hundred day moving average of $6.49. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -4.30 and a beta of 3.19. Archer Aviation has a 1-year low of $4.61 and a 1-year high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, equities analysts anticipate that Archer Aviation will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 91,839 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares of the company's stock, valued at approximately $8,700,768.30. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $73,863.30. Following the completion of the transaction, the chief accounting officer owned 87,210 shares of the company's stock, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. raised its stake in Archer Aviation by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock valued at $411,165,000 after purchasing an additional 2,312,899 shares during the period. ARK Investment Management LLC grew its holdings in shares of Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company's stock valued at $264,484,000 after buying an additional 3,869,252 shares in the last quarter. State Street Corp raised its position in Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company's stock valued at $246,454,000 after buying an additional 3,293,130 shares during the period. Morgan Stanley raised its position in Archer Aviation by 21.6% during the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company's stock valued at $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC boosted its position in Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company's stock worth $108,197,000 after acquiring an additional 1,867,648 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

About Archer Aviation

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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