Archer Aviation (NYSE:ACHR) Price Target Raised to $14.00

Archer Aviation (NYSE:ACHR - Get Free Report) had its price target upped by research analysts at Canaccord Genuity Group from $11.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 33.33% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Archer Aviation Trading Down 5.7 %

Shares of ACHR stock traded down $0.64 during trading on Wednesday, hitting $10.50. 34,972,875 shares of the stock traded hands, compared to its average volume of 41,821,750. The firm has a market capitalization of $4.47 billion, a P/E ratio of -7.95 and a beta of 3.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48. The firm's fifty day moving average price is $7.25 and its 200-day moving average price is $4.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the firm earned ($0.19) EPS. As a group, research analysts forecast that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, Director Michael Spellacy sold 191,513 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total transaction of $1,915,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00. Following the transaction, the chief technology officer now owns 1,120,360 shares of the company's stock, valued at approximately $10,083,240. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. Insiders own 9.75% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently bought and sold shares of the company. HBK Investments L P acquired a new stake in shares of Archer Aviation during the third quarter valued at $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation during the third quarter worth approximately $3,429,000. Stifel Financial Corp raised its position 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 worth $1,391,000 after buying 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 worth $1,294,000 after purchasing an additional 312,440 shares during the period. Finally, Geode Capital Management LLC grew its stake in Archer Aviation by 5.6% during the third 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. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.