Archer Aviation Inc. (NYSE:ACHR) Receives $11.61 Average Target Price from Brokerages

Archer Aviation Inc. (NYSE:ACHR) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.61.

A number of equities research analysts have issued reports on ACHR shares. Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th.

Insiders Place Their Bets

In other news, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. The trade was a 8.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the sale, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. The trade was a 52.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock valued at $3,158,081 in the last three months. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently made changes to their positions in ACHR. EP Wealth Advisors LLC lifted its stake in Archer Aviation by 6.7% in 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. lifted its stake 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 worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Sanctuary Advisors LLC boosted its holdings in 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. grew its position in Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock valued at $162,000 after acquiring an additional 1,299 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Up 2.5 %

ACHR stock opened at $7.23 on Friday. The business’s 50-day moving average price is $7.94 and its 200-day moving average price is $7.33. The stock has a market cap of $3.92 billion, a P/E ratio of -5.47 and a beta of 3.16. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, equities research analysts forecast that Archer Aviation will post -1.32 EPS for the current year.

Archer Aviation Company Profile

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.