Archer Aviation Inc. (NYSE:ACHR) Receives $10.25 Average Target Price from Brokerages

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.25.

Several brokerages recently issued reports on ACHR. Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th.

Get Our Latest Report on Archer Aviation

Archer Aviation Price Performance

NYSE ACHR opened at $8.86 on Friday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $9.84. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -6.71 and a beta of 3.19. The company’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.14.

Archer Aviation (NYSE:ACHRGet Free Report) last released its 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 quarter in the prior year, the firm posted ($0.19) EPS. As a group, research analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz purchased 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Spellacy sold 63,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $7.10, for a total transaction of $447,300.00. Following the completion of the sale, the director now directly owns 191,513 shares in the company, valued at $1,359,742.30. This trade represents a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,571,386 shares worth $9,236,577. Company insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the third quarter worth $26,000. Code Waechter LLC bought a new stake in Archer Aviation during the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation during the 3rd quarter valued at about $31,000. Hollencrest Capital Management boosted its position in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Finally, CWM LLC grew its stake in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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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