Raymond James Issues Positive Forecast for Archer Aviation (NYSE:ACHR) Stock Price

Archer Aviation (NYSE:ACHR) had its price target lifted by Raymond James from $11.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ACHR. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Canaccord Genuity Group dropped their price objective on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $9.13 on Friday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -6.91 and a beta of 3.13. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a 50-day simple moving average of $9.66 and a two-hundred day simple moving average of $6.09.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total value of $1,915,130.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,057,729 shares of company stock valued at $8,473,770. 9.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. EP Wealth Advisors LLC increased its position in Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock valued at $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. raised its position in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares during the period. Sanctuary Advisors LLC grew its position in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock valued at $162,000 after buying an additional 1,299 shares during the period. 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.