Archer Aviation (NYSE:ACHR) Earns “Buy” Rating from HC Wainwright

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $12.50 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 57.73% from the company’s current price.

Several other equities analysts have also recently issued reports on ACHR. Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Canaccord Genuity Group lowered their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.56.

Archer Aviation Price Performance

Archer Aviation stock opened at $7.93 on Friday. The stock has a 50-day moving average price of $9.60 and a two-hundred day moving average price of $6.20. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market capitalization of $3.37 billion, a PE ratio of -6.00 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Eric Lentell sold 114,788 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total transaction of $773,671.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last 90 days. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation in the third quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation in the 4th quarter worth $27,000. Conquis Financial LLC acquired a new stake in Archer Aviation in the 4th quarter valued at $29,000. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Oarsman Capital Inc. raised its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the last quarter. 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.