HC Wainwright Reaffirms “Buy” Rating for Archer Aviation (NYSE:ACHR)

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $12.50 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 40.89% from the stock’s current price.

Several other research firms also recently weighed in on ACHR. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group reduced their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC upped their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Up 12.0 %

NYSE:ACHR opened at $8.87 on Friday. The stock has a 50-day simple moving average of $9.59 and a 200-day simple moving average of $6.24. The stock has a market cap of $3.77 billion, a P/E ratio of -6.72 and a beta of 3.14. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

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

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,057,729 shares of company stock worth $8,473,770. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC grew its holdings in shares of Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. grew its holdings 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 worth $30,000 after acquiring an additional 1,095 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after acquiring an additional 1,246 shares during the period. Finally, Xponance Inc. grew its holdings in shares of Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after acquiring an additional 1,299 shares during the period. 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.