Archer Aviation (NYSE:ACHR) Given New $13.00 Price Target at Cantor Fitzgerald

Archer Aviation (NYSE:ACHR) had its price objective raised by Cantor Fitzgerald from $10.00 to $13.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on ACHR. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.63.

Archer Aviation Trading Down 1.5 %

Shares of Archer Aviation stock opened at $8.95 on Wednesday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm’s 50 day simple moving average is $5.12 and its two-hundred day simple moving average is $4.18. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $10.58. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the business posted ($0.19) earnings per share. Analysts predict that Archer Aviation will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,621,386 shares worth $9,686,577. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Large investors have recently modified their holdings of the business. Miller Wealth Advisors LLC bought a new position in Archer Aviation during the third quarter valued at approximately $26,000. Code Waechter LLC bought a new stake in Archer Aviation in the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, CWM LLC raised its position 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 purchasing an additional 3,559 shares during the period. 59.34% of the stock is 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.