Archer Aviation (NYSE:ACHR) Rating Lowered to Neutral at JPMorgan Chase & Co.

Archer Aviation (NYSE:ACHRGet Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They currently have a $9.00 target price on the stock, up from their previous target price of $6.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.56% from the company’s current price.

Several other brokerages also recently commented on ACHR. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC started coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $11.38.

View Our Latest Stock Report on Archer Aviation

Archer Aviation Stock Performance

ACHR opened at $8.95 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market cap of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. The stock has a 50-day moving average of $7.65 and a 200-day moving average of $5.04. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48.

Archer Aviation (NYSE:ACHRGet Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, equities research analysts forecast that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis bought 751,879 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avondale Wealth Management acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $127,000. Watts Gwilliam & Co. LLC bought a new stake in Archer Aviation in the fourth quarter valued at $157,000. Versant Capital Management Inc raised its stake in Archer Aviation by 74.3% during the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after acquiring an additional 3,430 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Archer Aviation during the third quarter valued at $80,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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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