Archer Aviation’s (ACHR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group began coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Canaccord Genuity Group raised their price target on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Trading Up 5.4%

NYSE:ACHR opened at $8.93 on Wednesday. The firm has a market capitalization of $5.82 billion, a P/E ratio of -7.09 and a beta of 3.10. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $8.09 and a 200 day moving average of $9.56. Archer Aviation has a 52 week low of $5.48 and a 52 week high of $14.62.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, research analysts predict that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the transaction, the chief financial officer owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider owned 334,632 shares of the company’s stock, valued at $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 307,635 shares of company stock worth $2,367,936 in the last ninety days. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter worth about $27,000. AlphaQuest LLC lifted its stake in Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at about $29,000. Bank of Jackson Hole Trust grew its stake in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after acquiring an additional 2,024 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.