Archer Aviation (NYSE:ACHR) Earns "Buy" Rating from Needham & Company LLC

Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price target on the stock. Needham & Company LLC's target price suggests a potential upside of 25.07% from the stock's current price.

Several other analysts also recently issued reports on ACHR. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group lifted their target price on Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note 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 stock a "buy" rating in a research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.38.

Archer Aviation Stock Down 3.2 %

Shares of NYSE:ACHR traded down $0.30 during trading on Thursday, hitting $8.80. 27,394,284 shares of the company's stock traded hands, compared to its average volume of 34,564,680. 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 company has a 50-day moving average price of $8.08 and a 200-day moving average price of $5.17. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -6.66 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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 prior year, the business posted ($0.19) EPS. As a group, research analysts forecast that Archer Aviation will post -1.33 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Deborah Diaz purchased 5,150 shares of the stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the transaction, the director now owns 98,886 shares of the company's stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently bought and sold shares of the stock. HBK Investments L P acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Sora Investors LLC bought a new stake in Archer Aviation in the 3rd quarter valued at $3,429,000. Yarbrough Capital LLC acquired a new position in Archer Aviation in the 4th quarter valued at $6,039,000. Stifel Financial Corp increased its position in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after buying an additional 391,092 shares during the period. Finally, Barclays PLC lifted its holdings in shares of 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 buying an additional 312,440 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.