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

Key Points

• Archer Aviation Inc. (NYSE:ACHR) received an average recommendation of "Moderate Buy" from analysts, with eight brokerages participating in the evaluation.
• Insiders Tosha Perkins and CTO Thomas Paul Muniz sold a combined total of 128,908 shares of the company's stock, indicating notable insider selling activity.
• Shares of Archer Aviation currently trade with a market capitalization of $5.06 billion and a twelve-month price range between $2.82 and $13.92.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have been given an average rating of "Moderate Buy" by the eight research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.4286.

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th.

Archer Aviation Stock Performance

NYSE:ACHR traded up $0.2770 on Thursday, hitting $9.6570. The stock had a trading volume of 25,053,983 shares, compared to its average volume of 29,753,948. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -7.15 and a beta of 3.08. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The business's 50-day simple moving average is $10.42 and its two-hundred day simple moving average is $9.39. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92.

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

Insiders Place Their Bets

In related news, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the sale, the insider owned 47,518 shares of the company's stock, valued at approximately $467,101.94. This trade represents a 50.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. This trade represents a 12.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock worth $2,865,206 over the last quarter. Company insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after acquiring an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation during the 4th quarter valued at approximately $27,000. Strs Ohio bought a new position in shares of Archer Aviation during the 1st quarter valued at approximately $27,000. Tidemark LLC increased its position in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock valued at $28,000 after purchasing an additional 2,375 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

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.