Archer Aviation (NYSE:ACHR) Given New $14.00 Price Target at Canaccord Genuity Group

Archer Aviation (NYSE:ACHR) had its price objective boosted by Canaccord Genuity Group from $11.00 to $14.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Archer Aviation Stock Down 5.7 %

ACHR opened at $10.50 on Wednesday. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -7.95 and a beta of 3.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm’s fifty day moving average is $7.25 and its 200 day moving average is $4.92. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. On average, sell-side analysts forecast that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the firm’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 sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc grew its stake in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after acquiring an additional 3,430 shares during the period. Hollencrest Capital Management boosted its stake in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Code Waechter LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at about $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of Archer Aviation during the 3rd quarter worth $31,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.