Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Needham & Company LLC's price objective would suggest a potential upside of 21.08% from the company's current price.
ACHR has been the subject of several other research reports. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. HC Wainwright reiterated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.38.
View Our Latest Report on ACHR
Archer Aviation Trading Up 3.4 %
Archer Aviation stock traded up $0.30 during trading on Thursday, reaching $9.09. 24,373,362 shares of the company were exchanged, compared to its average volume of 35,049,750. 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 50 day simple moving average is $7.96 and its two-hundred day simple moving average is $5.14. The company has a market capitalization of $3.86 billion, a P/E ratio of -6.88 and a beta of 3.15. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48.
Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Archer Aviation
Several large investors have recently bought and sold shares of the stock. Miller Wealth Advisors LLC purchased a new position in shares of Archer Aviation in the 3rd quarter valued at about $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the third quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the third quarter worth approximately $31,000. Hollencrest Capital Management grew its holdings in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 59.34% of the company's stock.
About Archer Aviation
(
Get Free Report)
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.
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