Archer Aviation Inc. (NYSE:ACHR) Stock Has Consensus Price Target of $11.00

Key Points

• Analysts maintain a moderately bullish outlook: Archer Aviation has a consensus “Moderate Buy” rating from nine analysts, with an average 12-month price target of $11.00.
• Recent coverage has generally improved: Barclays upgraded the stock to “overweight” and raised its target to $8.00, while Cantor Fitzgerald maintained an “overweight” rating with an $11.00 target; one analyst remains bearish.
• Archer remains an unprofitable eVTOL developer: The company matched quarterly EPS estimates at a loss of $0.34 but exceeded revenue expectations, reporting $5 million versus $1.94 million expected. Insiders sold $1.12 million of shares over the past quarter, while institutions and hedge funds own 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) has earned an average rating of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.00.

A number of analysts recently weighed in on the stock. UBS Group reiterated an "overweight" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Thursday. Finally, Barclays raised shares of Archer Aviation from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $4.50 to $8.00 in a report on Friday, October 9th.

Archer Aviation Price Performance

ACHR stock opened at $4.05 on Tuesday. The company has a market capitalization of $3.12 billion, a P/E ratio of -3.75 and a beta of 3.27. Archer Aviation has a twelve month low of $3.97 and a twelve month high of $12.13. The business has a 50 day simple moving average of $5.48 and a 200-day simple moving average of $5.53. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.34). The business had revenue of $5.00 million for the quarter, compared to analysts' expectations of $1.94 million. As a group, equities analysts anticipate that Archer Aviation will post -1.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric Lentell sold 100,000 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider owned 85,011 shares in the company, valued at $536,419.41. The trade was a 54.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the sale, the chief accounting officer directly owned 110,847 shares of the company's stock, valued at approximately $710,529.27. This represents a 11.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 176,657 shares of company stock valued at $1,122,371 over the last quarter. 5.55% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Archer Aviation by 189.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,272 shares of the company's stock valued at $31,000 after purchasing an additional 4,104 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Archer Aviation by 979.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company's stock worth $32,000 after purchasing an additional 3,888 shares during the last quarter. Parallel Advisors LLC raised its holdings in Archer Aviation by 59.4% during the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company's stock worth $45,000 after purchasing an additional 3,275 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Archer Aviation by 157.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company's stock worth $47,000 after purchasing an additional 5,832 shares during the last quarter. Finally, Tulsa Wealth Advisors INC purchased a new stake in Archer Aviation during the second quarter worth $50,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company's primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.

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