Archer Aviation’s (ACHR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Archer Aviation (NYSE:ACHR) in a report published on Monday, MarketBeat reports. The brokerage currently has a $12.50 price target on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group upped their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Archer Aviation Trading Up 5.5 %

Shares of ACHR opened at $8.86 on Monday. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $9.84. 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 stock has a market capitalization of $3.77 billion, a P/E ratio of -6.71 and a beta of 3.19. The business’s 50-day moving average price is $5.00 and its 200 day moving average price is $4.14.

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

Insiders Place Their Bets

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,571,386 shares valued at $9,236,577. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Archer Aviation by 5.6% in 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 acquired a new position in Archer Aviation in the third quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. boosted its stake in Archer Aviation by 5.4% in the third 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 grew its holdings in Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares during the period. Finally, Sora Investors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at $3,429,000. Institutional investors own 59.34% of the company’s stock.

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.