Archer Aviation (NYSE:ACHR) Price Target Raised to $15.00

Archer Aviation (NYSE:ACHR) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the company. HC Wainwright started coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group raised their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Archer Aviation Trading Up 17.0 %

ACHR opened at $8.39 on Friday. The firm’s 50 day moving average is $4.89 and its 200-day moving average is $4.10. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $9.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.57 billion, a P/E ratio of -6.36 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 in the previous year, the firm earned ($0.19) EPS. Analysts expect that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, Director Deborah Diaz bought 5,150 shares of the business’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 completion of the acquisition, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the transaction, the chief technology officer now directly owns 1,170,360 shares of the company’s stock, valued at $8,883,032.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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. 9.75% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently made changes to their positions in the stock. Miller Wealth Advisors LLC bought a new stake in Archer Aviation in the 3rd quarter valued at about $26,000. Hollencrest Capital Management grew its position in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. CWM LLC increased its stake in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the period. Code Waechter LLC bought a new stake in shares of Archer Aviation during the third quarter valued at approximately $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation during the third quarter worth approximately $31,000. 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.