Archer Aviation (NYSE:ACHR) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research note issued to investors on Friday,Benzinga reports. They currently have a $12.50 price objective on the stock.

ACHR has been the topic of a number of other research reports. Canaccord Genuity Group lowered their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC boosted their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Price Performance

NYSE:ACHR opened at $8.87 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock’s 50-day simple moving average is $9.60 and its 200 day simple moving average is $6.20. The company 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 52-week low of $2.82 and a 52-week high of $12.48.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, sell-side analysts forecast that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Eric Lentell sold 114,788 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total value of $773,671.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,057,729 shares of company stock valued at $8,473,770. 9.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its stake in Archer Aviation by 74.1% during the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after purchasing an additional 12,278 shares during the last quarter. PFG Investments LLC lifted its stake in Archer Aviation by 36.0% during the third quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock worth $59,000 after purchasing an additional 5,200 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Archer Aviation by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares during the last quarter. Fullcircle Wealth LLC lifted its stake in Archer Aviation by 138.0% during the third quarter. Fullcircle Wealth LLC now owns 47,601 shares of the company’s stock worth $144,000 after purchasing an additional 27,601 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in Archer Aviation during the third quarter worth $61,000. 59.34% of the stock is currently owned by institutional investors.

About Archer Aviation

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.