Archer Aviation (NYSE:ACHR) Stock Price Expected to Rise, Raymond James Analyst Says

Archer Aviation (NYSE:ACHR) had its price target boosted by equities research analysts at Raymond James from $11.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 31.51% from the stock’s current price.

ACHR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group cut their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Archer Aviation Stock Down 9.9 %

Shares of NYSE ACHR opened at $9.13 on Friday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48. The firm’s fifty day moving average is $9.66 and its 200 day moving average is $6.10. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -6.91 and a beta of 3.13.

Insider Buying and Selling

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 shares were bought at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the purchase, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. 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 quarter. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its position in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. HBK Investments L P purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at about $6,818,000. Yarbrough Capital LLC purchased a new stake in shares of Archer Aviation during the 4th quarter valued at about $6,039,000. Benjamin Edwards Inc. increased its position in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Archer Aviation during the 4th quarter valued at about $296,000. Hedge funds and other 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.