Archer Aviation (NYSE:ACHR) Price Target Raised to $15.00

Archer Aviation (NYSE:ACHR) had its price target raised by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 93.30% from the stock’s current price.

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

Archer Aviation Price Performance

NYSE:ACHR traded up $0.59 during trading hours on Friday, hitting $7.76. 46,879,186 shares of the stock traded hands, compared to its average volume of 11,596,610. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -5.88 and a beta of 3.19. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $9.84. The stock has a 50 day moving average price of $4.78 and a 200 day moving average price of $4.05. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results 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 prior year, the company posted ($0.19) earnings per share. Sell-side analysts forecast that Archer Aviation will post -1.28 EPS 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 Archer Aviation stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value 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 $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tosha Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,069,958 shares of company stock worth $5,461,608. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Sora Investors LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth about $3,429,000. Stifel Financial Corp lifted its stake in shares of Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the period. Barclays PLC increased its stake in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares during the last quarter. Institutional investors and hedge funds 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.