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

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month 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. Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th.

Archer Aviation Stock Down 2.4%

ACHR traded down $0.12 during trading on Friday, reaching $4.74. 23,726,239 shares of the stock traded hands, compared to its average volume of 34,243,484. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -4.30 and a beta of 3.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. Archer Aviation has a fifty-two week low of $4.61 and a fifty-two week high of $14.62. The stock’s 50-day simple moving average is $5.72 and its two-hundred day simple moving average is $6.49.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, equities research analysts expect that Archer Aviation will post -1.47 EPS for the current year.

Insider Buying and Selling

In other news, insider Eric Lentell sold 48,169 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55. Following the transaction, the insider owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This represents a 25.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. The trade was a 4.96% 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. In the last 90 days, insiders have sold 250,743 shares of company stock worth $1,497,672. Insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the company. Gould Capital LLC boosted its holdings in shares of Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares during the period. Strs Ohio acquired a new position in Archer Aviation during the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its position in Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares during the last quarter. Modus Advisors LLC bought a new stake in Archer Aviation during the fourth quarter valued at about $29,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $32,000. Institutional investors own 59.34% of the company’s stock.

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.