Archer Aviation Inc. (NYSE:ACHR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.33.

A number of analysts recently issued reports on the company. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Finally, HC Wainwright assumed coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in the business. HBK Investments L P bought a new position in shares of Archer Aviation in the third quarter valued at $6,818,000. Alpine Global Management LLC bought a new position in shares of Archer Aviation in the first quarter valued at $5,782,000. Sora Investors LLC bought a new position in shares of Archer Aviation in the third quarter valued at $3,429,000. Intellectus Partners LLC grew its stake in shares of Archer Aviation by 136.1% in the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after buying an additional 523,024 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after buying an additional 391,092 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Stock Performance

Shares of NYSE:ACHR opened at $7.50 on Tuesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -5.68 and a beta of 2.29. The firm’s 50 day simple moving average is $3.48 and its 200 day simple moving average is $3.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $7.90.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business posted ($0.19) EPS. As a group, sell-side analysts forecast that Archer Aviation will post -1.2 earnings per share for the current year.

About Archer Aviation

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.