Archer Aviation (NYSE:ACHR) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Archer Aviation (NYSE:ACHR) in a research report released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $12.50 price target on the stock.

Several other analysts have also recently commented on the company. Barclays reduced their price target on Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a report on Friday, May 17th. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, August 19th. Finally, Benchmark reiterated a buy rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of Moderate Buy and a consensus target price of $9.00.

Archer Aviation Stock Down 0.6 %

Shares of NYSE:ACHR opened at $3.38 on Tuesday. Archer Aviation has a 1-year low of $3.00 and a 1-year high of $7.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The stock has a market cap of $1.09 billion, a P/E ratio of -2.07 and a beta of 2.35. The firm has a fifty day moving average price of $4.07 and a 200 day moving average price of $4.06.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.07. Sell-side analysts predict that Archer Aviation will post -1.2 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis bought 2,982,089 shares of Archer Aviation stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Axxcess Wealth Management LLC lifted its stake in shares of Archer Aviation by 48.0% in the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after acquiring an additional 9,713 shares in the last quarter. Spire Wealth Management grew its position in shares of Archer Aviation by 33.4% during the fourth quarter. Spire Wealth Management now owns 44,943 shares of the company’s stock worth $276,000 after buying an additional 11,248 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after buying an additional 8,246 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Archer Aviation by 8.3% in the first quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after buying an additional 8,717 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Archer Aviation in the fourth quarter valued at $230,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.