Archer Aviation (NYSE:ACHR) Now Covered by Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Archer Aviation (NYSE:ACHR - Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $11.00 price target on the stock.

A number of other analysts have also issued reports on ACHR. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Finally, HC Wainwright assumed coverage on Archer Aviation in a report on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $9.33.

Archer Aviation Trading Up 16.2 %

Shares of ACHR stock traded up $0.71 on Tuesday, hitting $5.13. 34,772,577 shares of the stock traded hands, compared to its average volume of 8,688,072. The firm's 50-day moving average price is $3.34 and its two-hundred day moving average price is $3.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a market capitalization of $2.18 billion, a PE ratio of -3.88 and a beta of 2.29. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $7.01.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business earned ($0.19) EPS. As a group, analysts anticipate that Archer Aviation will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Axxcess Wealth Management LLC boosted its stake in Archer Aviation by 48.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company's stock worth $138,000 after buying an additional 9,713 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at about $117,000. Cetera Advisors LLC acquired a new position in Archer Aviation during the 1st quarter worth approximately $80,000. CWM LLC lifted its position in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in Archer Aviation during the 1st quarter worth approximately $266,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

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.