Archer Aviation (NYSE:ACHR) Given New $13.00 Price Target at Cantor Fitzgerald

Archer Aviation (NYSE:ACHR) had its price objective hoisted by investment analysts at Cantor Fitzgerald from $10.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 54.39% from the stock’s current price.

Several other analysts have also issued reports on ACHR. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Canaccord Genuity Group upped their price objective on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $10.63.

Archer Aviation Price Performance

Archer Aviation stock opened at $8.42 on Wednesday. The stock’s fifty day moving average price is $5.35 and its two-hundred day moving average price is $4.25. Archer Aviation has a one year low of $2.82 and a one year high of $10.58. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $3.58 billion, a PE ratio of -6.38 and a beta of 3.19.

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

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Diaz bought 5,150 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,621,386 shares worth $9,686,577. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several large investors have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter worth about $26,000. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at about $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the third quarter valued at about $31,000. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% during the second 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 lifted 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 worth $33,000 after buying an additional 3,559 shares in 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.