Needham & Company LLC Forecasts Strong Price Appreciation for Archer Aviation (NYSE:ACHR) Stock

Archer Aviation (NYSE:ACHR) had its target price boosted by Needham & Company LLC from $11.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 46.53% from the company’s previous close.

Several other research analysts have also issued reports on ACHR. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group decreased their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $8.87 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -6.72 and a beta of 3.14. The stock’s 50 day moving average price is $9.59 and its 200 day moving average price is $6.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. Equities research analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Eric Lentell sold 114,788 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $6.74, for a total transaction of $773,671.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last ninety days. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation in the 4th quarter valued at $27,000. Conquis Financial LLC acquired a new stake in shares of Archer Aviation in the 4th quarter valued at $29,000. Harbour Investments Inc. lifted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its stake in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares during the last quarter. 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.