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

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.61.

ACHR has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC lifted their target price on Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James increased their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group boosted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th.

Archer Aviation Price Performance

Archer Aviation stock traded up $0.18 during mid-day trading on Friday, hitting $7.23. 20,961,056 shares of the company were exchanged, compared to its average volume of 20,546,380. 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 12-month low of $2.82 and a 12-month high of $12.48. The business's 50 day simple moving average is $7.98 and its two-hundred day simple moving average is $7.24. The company has a market capitalization of $3.92 billion, a P/E ratio of -5.47 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. Analysts forecast that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Eric Lentell sold 43,230 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares in the company, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares in the company, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,780 shares of company stock valued at $3,158,081 in the last quarter. 9.75% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC boosted its position in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock valued at $156,000 after acquiring an additional 1,000 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares in the last quarter. Anchor Investment Management LLC grew its stake in Archer Aviation by 58.3% during 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 during the period. Sanctuary Advisors LLC lifted its position in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares during the period. Finally, Xponance Inc. boosted its position in shares of 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 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.