Analysts Set Archer Aviation Inc. (NYSE:ACHR) Target Price at $11.61

Archer Aviation Inc. (NYSE:ACHR) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.61.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC boosted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.26 on Monday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. The firm has a fifty day moving average price of $8.75 and a 200 day moving average price of $6.84. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, sell-side analysts expect that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares of the company’s stock, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the sale, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.