Raymond James Forecasts Strong Price Appreciation for Archer Aviation (NYSE:ACHR) Stock

Archer Aviation (NYSE:ACHR - Free Report) had its target price upped by Raymond James from $11.00 to $12.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on ACHR. 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 note on Wednesday, December 18th. 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 note on Friday, December 13th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group cut their price target on Archer Aviation from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $11.33.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded down $1.01 during midday trading on Friday, hitting $9.13. The company had a trading volume of 40,778,511 shares, compared to its average volume of 33,077,957. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -6.91 and a beta of 3.13. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a fifty day moving average of $9.66 and a two-hundred day moving average of $6.09.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, Director Deborah Diaz purchased 5,150 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the acquisition, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. The trade was a 1.26 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,057,729 shares of company stock valued at $8,473,770 in the last 90 days. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACHR. Creative Planning lifted its holdings in shares of Archer Aviation by 74.1% in the 3rd quarter. Creative Planning now owns 28,851 shares of the company's stock valued at $87,000 after acquiring an additional 12,278 shares during the last quarter. PFG Investments LLC lifted its stake in Archer Aviation by 36.0% in the third quarter. PFG Investments LLC now owns 19,629 shares of the company's stock worth $59,000 after purchasing an additional 5,200 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company's stock worth $115,000 after purchasing an additional 4,505 shares during the last quarter. Fullcircle Wealth LLC lifted its stake in Archer Aviation by 138.0% in the third quarter. Fullcircle Wealth LLC now owns 47,601 shares of the company's stock worth $144,000 after purchasing an additional 27,601 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in Archer Aviation in the third quarter worth about $61,000. Institutional investors own 59.34% of the company's stock.

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.