Archer Aviation (NYSE:ACHR) Price Target Raised to $11.00

Archer Aviation (NYSE:ACHR) had its price objective raised by Canaccord Genuity Group from $8.50 to $11.00 in a report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. HC Wainwright initiated coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Archer Aviation Trading Up 17.0 %

NYSE ACHR opened at $8.39 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $9.84. The stock has a market capitalization of $3.57 billion, a P/E ratio of -6.36 and a beta of 3.19. The firm’s 50-day moving average is $4.89 and its two-hundred day moving average is $4.10. 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) last issued its quarterly earnings data 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 posted ($0.19) EPS. On average, sell-side analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, Director Deborah Diaz acquired 5,150 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now owns 98,886 shares in the company, valued at $739,667.28. The trade was a 5.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 438,428 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,571,386 shares valued at $9,236,577. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the 3rd quarter worth $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation during the third quarter worth about $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at about $31,000. Hollencrest Capital Management boosted its position in shares of 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 purchasing an additional 3,000 shares during the period. Finally, CWM LLC grew its stake in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the last quarter. Institutional investors and hedge funds 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.