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

Key Points

• Archer Aviation has a consensus analyst rating of “Moderate Buy”, with 5 of 8 analysts rating it a buy and an average 1-year price target of about $11.83.
• The company missed first-quarter expectations, reporting EPS of -$0.28 versus the expected -$0.25 and revenue of $1.60 million versus $1.66 million forecast.
• Archer’s stock traded up 3.6% to $6.34, while recent insider activity included multiple share sales and institutional investors continued to hold the majority of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.8333.

ACHR has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group cut their price target on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Finally, Needham & Company LLC cut their price target on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd.

Archer Aviation Trading Up 3.6%

Shares of Archer Aviation stock opened at $6.34 on Friday. The firm has a market capitalization of $4.82 billion, a PE ratio of -5.76 and a beta of 3.13. Archer Aviation has a twelve month low of $4.80 and a twelve month high of $14.62. The firm's 50-day moving average price is $5.85 and its 200 day moving average price is $7.13. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analysts' expectations of $1.66 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, sell-side analysts predict that Archer Aviation will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider owned 141,084 shares of the company's stock, valued at $839,449.80. The trade was a 25.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 54,786 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $353,917.56. Following the completion of the sale, the insider owned 377,022 shares in the company, valued at approximately $2,435,562.12. This trade represents a 12.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 502,739 shares of company stock valued at $3,124,236. Company insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

A number of institutional investors have recently made changes to their positions in ACHR. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Archer Aviation by 12.4% during the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company's stock worth $264,484,000 after buying an additional 3,869,252 shares during the period. State Street Corp boosted its holdings in shares of Archer Aviation by 11.2% during the 4th quarter. State Street Corp now owns 32,773,136 shares of the company's stock worth $246,454,000 after buying an additional 3,293,130 shares during the period. Morgan Stanley boosted its holdings in shares of Archer Aviation by 21.6% during the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company's stock worth $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company's stock worth $108,197,000 after buying an additional 1,867,648 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

About Archer Aviation

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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