Archer Aviation Inc. (NYSE:ACHR – Get Rating) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.70.
Several equities analysts have commented on ACHR shares. Zacks Investment Research downgraded Archer Aviation from a “buy” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on Archer Aviation in a research report on Thursday, April 28th. They issued an “overweight” rating and a $7.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on Archer Aviation in a research report on Monday, April 11th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Benchmark cut their price objective on Archer Aviation to $12.00 and set a “na” rating on the stock in a research report on Thursday.
In related news, major shareholder Marc E. Lore acquired 163,355 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average cost of $2.98 per share, for a total transaction of $486,797.90. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Marc E. Lore acquired 41,405 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were bought at an average price of $3.25 per share, with a total value of $134,566.25. The disclosure for this purchase can be found here. Insiders have bought a total of 541,303 shares of company stock worth $1,666,395 in the last three months.
Archer Aviation stock traded down $0.15 during mid-day trading on Thursday, hitting $3.68. The company’s stock had a trading volume of 102,318 shares, compared to its average volume of 2,159,549. The company has a 50 day moving average of $4.14 and a 200-day moving average of $4.61. Archer Aviation has a one year low of $2.61 and a one year high of $10.72.
About Archer Aviation (Get Rating)
Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.
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