Archer Aviation (NYSE:ACHR) Earns Buy Rating from Needham & Company LLC

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 12.49% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Canaccord Genuity Group increased their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. JPMorgan Chase & Co. dropped their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, The Goldman Sachs Group initiated coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Trading Down 0.2%

Shares of ACHR stock opened at $8.89 on Wednesday. The stock’s fifty day moving average is $8.09 and its two-hundred day moving average is $9.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The firm has a market capitalization of $5.79 billion, a P/E ratio of -7.06 and a beta of 3.10. Archer Aviation has a fifty-two week low of $5.48 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Research analysts expect that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider owned 334,632 shares in the company, valued at $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 307,635 shares of company stock worth $2,367,936. 7.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Advisors Inc. OK acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $117,000. Nikulski Financial Inc. acquired a new stake in Archer Aviation during the 4th quarter worth approximately $367,000. Spire Wealth Management boosted its position in Archer Aviation by 39.7% in the 4th quarter. Spire Wealth Management now owns 9,706 shares of the company’s stock valued at $73,000 after buying an additional 2,760 shares during the period. Tradewinds Capital Management LLC grew its stake in shares of Archer Aviation by 91.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 15,749 shares of the company’s stock worth $118,000 after acquiring an additional 7,529 shares in the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of Archer Aviation by 29.0% in the fourth quarter. CoreCap Advisors LLC now owns 19,106 shares of the company’s stock worth $144,000 after acquiring an additional 4,291 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.