Archer Aviation (NYSE:ACHR) Rating Lowered to Neutral at JPMorgan Chase & Co.

Archer Aviation (NYSE:ACHR - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research report issued on Friday, Marketbeat reports. They presently have a $9.00 price target on the stock, up from their prior price target of $6.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 0.56% from the company's current price.

Several other equities analysts also recently commented on ACHR. Canaccord Genuity Group upped 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. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Cantor Fitzgerald increased 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. Finally, Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $11.00 price target on the stock. 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $11.38.

Archer Aviation Stock Down 14.6 %

Shares of Archer Aviation stock traded down $1.53 during trading on Friday, reaching $8.95. The stock had a trading volume of 37,599,729 shares, compared to its average volume of 41,136,836. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.15. The stock has a fifty day moving average price of $7.54 and a two-hundred day moving average price of $4.99. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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 period last year, the company posted ($0.19) earnings per share. Sell-side analysts predict that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Deborah Diaz bought 5,150 shares of the company's stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein bought 19,762 shares of the company's stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $5.12 per share, for a total transaction of $101,181.44. Following the transaction, the chief executive officer now owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the stock. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $26,000. Versant Capital Management Inc raised its holdings in shares of Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company's stock worth $78,000 after purchasing an additional 3,430 shares during the period. Hollencrest Capital Management grew its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after buying an additional 3,000 shares in the last quarter. Code Waechter LLC purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $31,000. Institutional investors own 59.34% of the company's stock.

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.