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

Archer Aviation (NYSE:ACHR) had its price target raised by analysts at Raymond James from $11.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 22.60% from the stock’s previous close.

Several other research firms also recently weighed in on ACHR. Canaccord Genuity Group decreased 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. 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, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Archer Aviation Price Performance

Shares of NYSE:ACHR traded down $0.34 during trading on Friday, hitting $9.79. 15,688,047 shares of the company’s stock were exchanged, compared to its average volume of 32,302,166. 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 $12.48. The business’s 50-day simple moving average is $9.65 and its 200 day simple moving average is $6.05. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -7.45 and a beta of 3.13.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah Diaz acquired 5,150 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the transaction, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 1,057,729 shares of company stock valued at $8,473,770 over the last quarter. 9.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACHR. ARK Investment Management LLC boosted its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares during the period. Geode Capital Management LLC grew its stake in Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after buying an additional 724,736 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Archer Aviation in the fourth quarter valued at approximately $42,709,000. 59.34% of the stock is owned by hedge funds and other 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.