Archer Aviation (NYSE:ACHR – Get Rating) had its price target reduced by Benchmark to $12.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “na” rating on the stock. Benchmark’s target price suggests a potential upside of 226.98% from the company’s current price.
ACHR has been the subject of a number of other research reports. JPMorgan Chase & Co. assumed coverage on Archer Aviation in a research note on Thursday, April 28th. They issued an “overweight” rating and a $7.00 target price for the company. Zacks Investment Research lowered Archer Aviation from a “buy” rating to a “sell” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Archer Aviation in a research report on Monday, April 11th. They issued a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.79.
ACHR traded down $0.16 on Thursday, hitting $3.67. The company had a trading volume of 92,659 shares, compared to its average volume of 2,159,549. The stock has a fifty day simple moving average of $4.14 and a 200-day simple moving average of $4.61. Archer Aviation has a 52-week low of $2.61 and a 52-week high of $10.72.
Several institutional investors have recently added to or reduced their stakes in the stock. Greycroft LP bought a new position in Archer Aviation during the fourth quarter valued at approximately $37,853,000. ARK Investment Management LLC lifted its holdings in shares of Archer Aviation by 97.1% during the 4th quarter. ARK Investment Management LLC now owns 11,306,020 shares of the company’s stock valued at $68,288,000 after buying an additional 5,568,451 shares during the period. Invesco Ltd. bought a new position in shares of Archer Aviation during the 4th quarter valued at $20,444,000. Third Point LLC purchased a new position in shares of Archer Aviation in the 3rd quarter worth $22,200,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Archer Aviation by 76.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,155,038 shares of the company’s stock worth $25,096,000 after acquiring an additional 1,800,936 shares during the period. 37.12% of the stock is currently owned by institutional investors.
Archer Aviation Company Profile (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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