Archer Aviation Inc. (NYSE:ACHR) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.61.

Several research analysts have weighed in on the company. Cantor Fitzgerald upped their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Needham & Company LLC boosted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Canaccord Genuity Group upped their target price 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, JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th.

Archer Aviation Price Performance

Archer Aviation stock traded down $0.29 during mid-day trading on Monday, hitting $7.84. The company's stock had a trading volume of 18,257,381 shares, compared to its average volume of 19,161,032. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The stock's fifty day moving average price is $8.81 and its two-hundred day moving average price is $6.81. The stock has a market capitalization of $4.26 billion, a P/E ratio of -5.94 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. Research analysts forecast that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,985 shares of company stock worth $2,555,685. Insiders own 9.75% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in ACHR. EP Wealth Advisors LLC boosted its holdings in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after purchasing an additional 1,000 shares during the last quarter. Harbour Investments Inc. raised 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 acquiring an additional 1,095 shares during the period. Anchor Investment Management LLC raised its position in shares of Archer Aviation by 58.3% in the fourth 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. Sanctuary Advisors LLC grew its position in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after purchasing an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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.