Archer Aviation (NYSE:ACHR) Price Target Raised to $13.00

Archer Aviation (NYSE:ACHR - Get Free Report) had its price target boosted by equities research analysts at Cantor Fitzgerald from $10.00 to $13.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 45.25% from the stock's previous close.

Several other brokerages also recently issued reports on ACHR. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price target on the stock. Canaccord Genuity Group raised their price target on Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.63.

Archer Aviation Stock Down 1.5 %

Archer Aviation stock traded down $0.14 during mid-day trading on Wednesday, hitting $8.95. 79,113,547 shares of the company's stock were exchanged, compared to its average volume of 12,400,590. 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 market cap of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.19. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $10.58. The stock has a 50 day moving average of $5.12 and a two-hundred day moving average of $4.18.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its 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 in the previous year, the business earned ($0.19) EPS. As a group, analysts anticipate that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, Director Deborah Diaz purchased 5,150 shares of the business's stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares of the company's stock, valued at $739,667.28. This represents a 5.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the sale, the chief technology officer now directly owns 1,170,360 shares in the company, valued at $8,883,032.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,571,386 shares valued at $9,236,577. Company insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HBK Investments L P bought a new stake in shares of Archer Aviation in the 3rd quarter valued at about $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter valued at about $3,429,000. Stifel Financial Corp raised its holdings in shares of Archer Aviation by 574.5% in the 3rd 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 during the period. Barclays PLC raised its holdings in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock valued at $15,487,000 after purchasing an additional 268,896 shares during the period. 59.34% of the stock is owned by institutional investors.

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.