Archer Aviation Inc. (NYSE:ACHR) Given Average Rating of “Moderate Buy” by Analysts

Shares of Archer Aviation Inc. (NYSE:ACHR) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.33.

Several equities analysts have weighed in on the company. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday. They set a “buy” rating and a $11.00 price target for the company. JPMorgan Chase & Co. raised their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Finally, 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 target price for the company.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares during the period. Barclays PLC boosted its stake in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at about $583,000. XTX Topco Ltd acquired a new position in Archer Aviation during the 3rd quarter worth approximately $397,000. Finally, EP Wealth Advisors LLC boosted its holdings in Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $4.42 on Tuesday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $3.62. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $7.01. The stock has a market cap of $1.88 billion, a P/E ratio of -3.34 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company earned ($0.19) EPS. Research analysts anticipate that Archer Aviation will post -1.2 earnings per share 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.