Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Archer Aviation (NYSE:ACHR) Stock Price

Archer Aviation (NYSE:ACHR) had its price objective raised by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

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

Archer Aviation Stock Up 17.2 %

ACHR stock opened at $8.40 on Friday. The company’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $4.09. The firm has a market capitalization of $3.57 billion, a P/E ratio of -6.36 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $9.84.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) EPS. As a group, equities research analysts anticipate that Archer Aviation will post -1.28 EPS for the current year.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 438,428 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the sale, the chief technology officer now directly owns 1,170,360 shares of the company’s stock, valued at approximately $8,883,032.40. This represents a 27.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the third quarter worth approximately $26,000. Code Waechter LLC bought a new position in shares of Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Hollencrest Capital Management raised its stake in Archer Aviation by 50.0% in the 2nd 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 period. Finally, CWM LLC lifted its holdings in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.