Archer Aviation Inc. (NYSE:ACHR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Archer Aviation Inc. (NYSE:ACHR) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.33.

ACHR has been the topic of several research reports. HC Wainwright began coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective for the company. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC started coverage on Archer Aviation in a research report on Tuesday. They set a “buy” rating and a $11.00 price objective for the company.

Archer Aviation Stock Performance

Shares of ACHR opened at $4.42 on Tuesday. The firm has a market cap of $1.88 billion, a PE ratio of -3.34 and a beta of 2.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock’s fifty day moving average price is $3.30 and its two-hundred day moving average price is $3.62. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $7.01.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) earnings per share. On average, equities research analysts forecast that Archer Aviation will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. HBK Investments L P purchased a new position in Archer Aviation during the third quarter valued at $6,818,000. Alpine Global Management LLC bought a new position in shares of Archer Aviation during the 1st quarter valued at approximately $5,782,000. Sora Investors LLC purchased a new stake in Archer Aviation in the 3rd quarter worth approximately $3,429,000. Intellectus Partners LLC raised its stake in Archer Aviation by 136.1% during the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after acquiring an additional 523,024 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after purchasing an additional 391,092 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.