Brokerages Set Archer Aviation Inc. (NYSE:ACHR) PT at $11.33

Shares of Archer Aviation Inc. (NYSE:ACHR) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.61.

A number of brokerages recently issued reports on ACHR. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC lifted their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder N.V. Stellantis purchased 751,879 shares of Archer Aviation stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 1,046,926 shares of company stock valued at $8,695,783. Insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Creative Planning lifted its position in shares of Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after buying an additional 12,278 shares during the last quarter. PFG Investments LLC lifted its position in shares of Archer Aviation by 36.0% in the third quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock worth $59,000 after buying an additional 5,200 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares during the last quarter. Fullcircle Wealth LLC lifted its position in shares of Archer Aviation by 138.0% in the third quarter. Fullcircle Wealth LLC now owns 47,601 shares of the company’s stock worth $144,000 after buying an additional 27,601 shares during the last quarter. Finally, Vestor Capital LLC acquired a new stake in shares of Archer Aviation in the third quarter worth about $61,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $8.13 on Thursday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -6.16 and a beta of 3.13. The stock’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $6.34. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48.

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