Archer Aviation's (ACHR) "Buy" Rating Reaffirmed at HC Wainwright

Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a report released on Monday, MarketBeat reports. They presently have a $12.50 price target on the stock. HC Wainwright's price target would suggest a potential upside of 41.16% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped 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. Finally, Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a "buy" rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $10.25.

Archer Aviation Stock Performance

NYSE:ACHR traded up $0.46 during trading hours on Monday, reaching $8.86. The company had a trading volume of 70,138,574 shares, compared to its average volume of 11,997,867. The firm has a market cap of $3.77 billion, a PE ratio of -6.71 and a beta of 3.19. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $9.84. The business's 50 day moving average price is $5.00 and its 200-day moving average price is $4.14. 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 (NYSE:ACHR - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) EPS. Research analysts forecast that Archer Aviation will post -1.28 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 438,428 shares of the firm's stock in a transaction that occurred on 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 owns 1,170,360 shares of the company's stock, valued at $8,883,032.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new position in Archer Aviation in the third quarter valued at about $26,000. Code Waechter LLC purchased a new position in shares of Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management raised its position in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after purchasing an additional 3,000 shares during the period. Finally, CWM LLC lifted its stake in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other 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.