Archer Aviation (NYSE:ACHR) Given New $15.00 Price Target at Deutsche Bank Aktiengesellschaft

Archer Aviation (NYSE:ACHR) had its price target increased by research analysts at Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 93.30% from the company’s current price.

Several other research firms have also recently commented on ACHR. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, HC Wainwright started coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

Archer Aviation Stock Up 8.2 %

NYSE:ACHR traded up $0.59 during midday trading on Friday, reaching $7.76. The company had a trading volume of 46,879,186 shares, compared to its average volume of 11,596,610. 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’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $4.05. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -5.88 and a beta of 3.19. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $9.84.

Archer Aviation (NYSE:ACHR) last announced its quarterly 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 prior year, the business posted ($0.19) EPS. On average, sell-side analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,069,958 shares of company stock valued at $5,461,608 over the last quarter. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation in the third quarter worth $26,000. Code Waechter LLC purchased a new position in shares of Archer Aviation in the third quarter worth $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation in the 3rd quarter worth $31,000. Hollencrest Capital Management raised its stake in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. 59.34% of the stock is owned by institutional investors.

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.