Archer Aviation’s (ACHR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Archer Aviation (NYSE:ACHRFree Report) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $11.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price target 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. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Check Out Our Latest Research Report on Archer Aviation

Archer Aviation Price Performance

NYSE ACHR opened at $8.80 on Thursday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The firm has a market capitalization of $3.74 billion, a PE ratio of -6.66 and a beta of 3.15. The company’s 50 day simple moving average is $8.17 and its 200 day simple moving average is $5.22. 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:ACHRGet Free Report) last issued 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 quarter in the prior year, the business posted ($0.19) earnings per share. As a group, equities research analysts forecast that Archer Aviation will post -1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on 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 owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $6.65 per share, with a total value 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. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new position in Archer Aviation in the third quarter worth approximately $26,000. Code Waechter LLC bought a new stake in Archer Aviation in the third quarter worth approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation in the third quarter worth approximately $31,000. Hollencrest Capital Management increased its stake in shares of 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 during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation during the 3rd quarter valued at $36,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Archer Aviation (NYSE:ACHR)

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