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

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.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.4286.

ACHR has been the topic of several research analyst reports. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th.

Archer Aviation Stock Up 0.2%

NYSE:ACHR traded up $0.02 during trading hours on Monday, hitting $9.14. 31,066,115 shares of the company's stock traded hands, compared to its average volume of 31,995,895. The firm has a market cap of $5.90 billion, a P/E ratio of -6.77 and a beta of 3.07. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The stock's fifty day moving average price is $9.96 and its two-hundred day moving average price is $9.33.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). On average, research analysts expect that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Eric Lentell sold 95,896 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer directly owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHR. Allworth Financial LP boosted its position in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Archer Aviation during the fourth quarter worth about $27,000. Strs Ohio bought a new position in Archer Aviation during the first quarter worth about $27,000. Tidemark LLC lifted its holdings in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

About Archer Aviation

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.