Archer Aviation (NYSE:ACHR) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Archer Aviation (NYSE:ACHR) had its price target lifted by Cantor Fitzgerald from $10.00 to $13.00 in a report published on Wednesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.

Archer Aviation Trading Down 1.5 %

ACHR stock opened at $8.95 on Wednesday. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $10.58. 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 business’s 50-day moving average is $5.12 and its 200 day moving average is $4.18. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.19.

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

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz purchased 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. The trade was a 5.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation 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 transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,621,386 shares worth $9,686,577. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC bought a new stake in Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the third quarter valued at $31,000. Hollencrest Capital Management raised its holdings in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, CWM LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.