Archer Aviation (NYSE:ACHR) Price Target Raised to $14.00

by · The Markets Daily

Archer Aviation (NYSE:ACHR – Get Free Report) had its target price lifted by equities research analysts at Canaccord Genuity Group from $11.00 to $14.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 25.56% from the company’s current price.

ACHR has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted 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, December 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Get Our Latest Stock Report on Archer Aviation

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $11.15 on Wednesday. The firm has a market capitalization of $4.74 billion, a P/E ratio of -8.45 and a beta of 3.15. Archer Aviation has a one year low of $2.82 and a one year high of $12.48. The company’s fifty day moving average is $7.25 and its two-hundred day moving average is $4.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR – Get Free Report) last issued its earnings results 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 prior year, the firm posted ($0.19) EPS. Analysts forecast that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter valued at about $26,000. Code Waechter LLC acquired a new position in shares of Archer Aviation during the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation during the 3rd quarter worth approximately $31,000. Hollencrest Capital Management increased its position in Archer Aviation by 50.0% during 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 in the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new stake in Archer Aviation during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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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.

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