Archer Aviation Inc. (NYSE:ACHR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.33.

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 438,428 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the transaction, the chief technology officer now owns 1,170,360 shares of the company’s stock, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last three months. Insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation in the 4th quarter worth $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the fourth quarter valued at about $29,000. Oarsman Capital Inc. lifted its holdings in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Harbour Investments Inc. boosted its position in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Stock Up 5.5 %

Shares of NYSE:ACHR opened at $8.20 on Thursday. The firm has a market capitalization of $3.49 billion, a P/E ratio of -6.21 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a 50 day moving average price of $9.61 and a 200-day moving average price of $6.19. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48.

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.