Brokerages Set Archer Aviation Inc. (NYSE:ACHR) Target Price at $10.63

Archer Aviation Inc. (NYSE:ACHR) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.38.

ACHR has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares in the company, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation 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 completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the third quarter worth approximately $26,000. Code Waechter LLC acquired a new position in Archer Aviation during the third quarter worth $30,000. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation in the 3rd quarter valued at about $31,000. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in Archer Aviation during the 3rd quarter valued at $36,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $8.95 on Wednesday. The firm has a market cap of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.15. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a 50 day simple moving average of $7.65 and a 200 day simple moving average of $5.04.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the company earned ($0.19) EPS. Sell-side analysts predict that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Archer Aviation Company Profile

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.