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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) has earned an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.13.

Several brokerages have commented on ACHR. UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price (up previously from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Finally, Needham & Company LLC restated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday, May 13th.

Insider Activity

In other Archer Aviation news, CFO Mark Mesler sold 50,775 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $659,567.25. Following the completion of the transaction, the chief financial officer directly owned 711,525 shares in the company, valued at $9,242,709.75. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Eric Lentell sold 95,896 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total value of $1,016,497.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,960 shares of company stock valued at $4,441,519. Corporate insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in shares of Archer Aviation by 24.1% in the 4th quarter. HighTower Advisors LLC now owns 25,320 shares of the company's stock valued at $247,000 after purchasing an additional 4,925 shares during the period. Commonwealth Equity Services LLC increased its position in Archer Aviation by 90.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 120,654 shares of the company's stock worth $1,176,000 after buying an additional 57,245 shares during the last quarter. Xponance Inc. increased its position in Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after buying an additional 1,299 shares during the last quarter. Quantbot Technologies LP bought a new stake in Archer Aviation in the fourth quarter valued at approximately $167,000. Finally, Sei Investments Co. acquired a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $561,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Price Performance

ACHR opened at $11.22 on Friday. The stock has a market cap of $6.16 billion, a P/E ratio of -8.56 and a beta of 3.10. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $13.92. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $9.30.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. On average, research analysts expect 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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