Archer Aviation (NYSE:ACHR) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Archer Aviation (NYSE:ACHR) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $11.00 price target on the stock.

A number of other equities analysts have also recently commented on ACHR. JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright initiated coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Archer Aviation Trading Up 16.2 %

NYSE:ACHR opened at $5.13 on Tuesday. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $7.01. The company’s 50 day moving average price is $3.34 and its 200-day moving average price is $3.62. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -3.88 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 quarter last year, the company posted ($0.19) earnings per share. On average, equities research analysts forecast that Archer Aviation will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently modified their holdings of the business. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the third quarter worth about $26,000. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC lifted its holdings in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Code Waechter LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter worth $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation during the 3rd quarter worth $31,000. Institutional investors 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.