Archer Aviation Inc. (NYSE:ACHR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Archer Aviation Inc. has received a consensus recommendation of “Moderate Buy” from eight brokerage firms, with an average target price of $13.43 for the stock.
• Recent insider trading reveals that General Counsel Eric Lentell sold nearly 96,000 shares for over $1 million, while CFO Priya Gupta also sold over 10,000 shares.
• Despite the positive ratings, Archer Aviation's recent earnings report showed a loss of ($0.36) EPS, missing analysts' expectations by $0.12.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.4286.

ACHR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th.

Archer Aviation Trading Up 2.5%

ACHR stock traded up $0.23 during mid-day trading on Monday, reaching $9.23. 18,516,279 shares of the stock traded hands, compared to its average volume of 31,971,539. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92. The company has a market cap of $5.95 billion, a P/E ratio of -6.86 and a beta of 3.07. The stock's fifty day moving average is $9.90 and its 200-day moving average is $9.33.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, sell-side analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares in the company, valued at $2,903,162.71. The trade was a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock valued at $2,865,206 over the last 90 days. 7.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock worth $38,000 after purchasing an additional 1,106 shares during the period. Moody National Bank Trust Division increased its stake in Archer Aviation by 0.7% during the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after acquiring an additional 1,211 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Archer Aviation by 23.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company's stock valued at $72,000 after acquiring an additional 1,269 shares during the period. Purus Wealth Management LLC increased its stake in Archer Aviation by 9.9% during the second quarter. Purus Wealth Management LLC now owns 14,865 shares of the company's stock valued at $161,000 after acquiring an additional 1,340 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after acquiring an additional 1,358 shares during the period. 59.34% of the stock is owned by institutional investors.

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.