Archer Aviation’s (ACHR) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have a $12.50 target price on the stock.

A number of other research analysts also recently weighed in on ACHR. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group upped 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, December 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Price Performance

NYSE ACHR opened at $8.95 on Monday. The firm’s 50 day moving average is $5.12 and its 200-day moving average is $4.18. 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 company has a market capitalization of $3.81 billion, a PE ratio of -6.78 and a beta of 3.19. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $10.58.

Archer Aviation (NYSE:ACHR) last issued its quarterly 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 previous year, the company earned ($0.19) EPS. Equities research analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value 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 $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deborah Diaz bought 5,150 shares of Archer Aviation stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the acquisition, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,621,386 shares valued at $9,686,577. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the period. HBK Investments L P bought a new stake in shares of Archer Aviation in the third quarter valued at about $6,818,000. Charles Schwab Investment Management Inc. grew its stake in shares of Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp increased its position in Archer Aviation by 23.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares during the period. Finally, Sora Investors LLC acquired a new stake in Archer Aviation in the 3rd quarter worth about $3,429,000. 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.