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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $12.50.

A number of equities research analysts have commented on the company. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Friday, May 16th. Finally, Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 80,919 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the completion of the sale, the chief technology officer now directly owns 1,253,294 shares in the company, valued at $16,280,289.06. This represents a 6.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Mesler sold 34,498 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. This represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 451,859 shares of company stock valued at $4,627,418 in the last ninety days. Corporate insiders own 7.65% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC grew its stake in shares of Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Archer Aviation during the 4th quarter valued at approximately $42,709,000. Vanguard Group Inc. lifted its position in Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Nuveen LLC bought a new position in Archer Aviation in the 1st quarter worth approximately $22,423,000. Finally, Alyeska Investment Group L.P. raised its stake in shares of Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after purchasing an additional 3,064,280 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Up 8.7%

NYSE:ACHR opened at $10.17 on Friday. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $13.92. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $8.90 and its 200-day simple moving average is $8.79. The firm has a market cap of $5.58 billion, a P/E ratio of -7.70 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. Equities analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

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.

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