Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Archer Aviation (NYSE:ACHR) Stock

Archer Aviation (NYSE:ACHR) had its price target boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 78.78% from the stock’s current price.

Several other brokerages have also recently weighed in on ACHR. HC Wainwright initiated coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Canaccord Genuity Group boosted 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.25.

Archer Aviation Stock Performance

NYSE ACHR opened at $8.39 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a fifty day moving average price of $4.89 and a 200-day moving average price of $4.09. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $9.84. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -6.36 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, equities research analysts predict that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, 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 transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the sale, the chief technology officer now owns 1,170,360 shares in the company, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. HBK Investments L P purchased a new position in Archer Aviation during the 3rd quarter valued at $6,818,000. Charles Schwab Investment Management Inc. grew its position in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Archer Aviation by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after purchasing an additional 254,460 shares during the period. Finally, Sora Investors LLC purchased a new stake in shares of Archer Aviation during the third quarter valued at $3,429,000. 59.34% of the stock is currently owned by institutional investors.

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.