#2 - Archer Aviation (NYSE:ACHR)
Archer Aviation Inc. (NYSE: ACHR) may not beat Joby Aviation to the finish line, but it won’t be far behind. Archer has already completed the first stage of the FAA certification process. And, like Joby, it expects to begin commercial flights in 2025.
Archer has a partnership with United Airlines Holdings Inc. (NASDAQ: UAL), which started in 2021. Initially, the partnership was designed to help with manufacturing. That has expanded to include the announcement of two point-to-point routes, one between Manhattan and Newark Airport and, most recently, between downtown Chicago and O’Hare International Airport. The company is also negotiating with the United Arab Emirates (U.A.E.) to launch an air taxi program in the country by 2026.
Archer faces many of the same risks as Joby Aviation. With short interest of over 28%, the company is still years away from turning a profit. Interestingly, 59% of ACHR stock is owned by institutions, a fact that investors could view as a vote of confidence.
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.
- Current Price
- $9.49
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $10.63 (12.0% Upside)
