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

HC Wainwright reaffirmed their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research note published on Tuesday,Benzinga reports. They currently have a $18.00 price target on the stock.

Several other research firms also recently issued reports on ACHR. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Archer Aviation Price Performance

ACHR opened at $10.25 on Tuesday. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92. The company has a 50 day moving average of $10.59 and a two-hundred day moving average of $9.37. The company has a market cap of $5.63 billion, a P/E ratio of -7.59 and a beta of 3.08.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 80,919 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the sale, the chief technology officer directly owned 1,253,294 shares of the company’s stock, valued at $16,280,289.06. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mesler sold 50,775 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $659,567.25. Following the completion of the sale, the chief financial officer directly owned 711,525 shares in the company, valued at $9,242,709.75. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,960 shares of company stock valued at $4,018,019 over the last ninety days. 7.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC raised its holdings in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after purchasing an additional 2,375 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after purchasing an additional 2,024 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after purchasing an additional 1,106 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.