Needham & Company LLC Issues Positive Forecast for Archer Aviation (NYSE:ACHR) Stock Price

Archer Aviation (NYSE:ACHR) had its price target increased by Needham & Company LLC from $11.00 to $13.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on ACHR. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group dropped their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Price Performance

Shares of ACHR stock opened at $8.87 on Friday. 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’s 50-day moving average is $9.60 and its two-hundred day moving average is $6.20. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market capitalization of $3.77 billion, a PE ratio of -6.72 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Analysts predict that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the transaction, the chief technology officer now owns 1,170,360 shares in the company, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now directly owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,057,729 shares of company stock worth $8,473,770. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Miller Wealth Advisors LLC purchased a new position in Archer Aviation in the third quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in Archer Aviation in the fourth quarter worth approximately $27,000. Conquis Financial LLC purchased a new position in Archer Aviation in the fourth quarter worth approximately $29,000. Harbour Investments Inc. lifted its position in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its position in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the last quarter. Hedge funds and other 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.