Archer Aviation’s (ACHR) “Buy” Rating Reiterated at HC Wainwright

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $18.00 target price on the stock, up from their prior target price of $12.00. HC Wainwright’s target price suggests a potential upside of 58.38% from the stock’s previous close.

ACHR has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.19.

Archer Aviation Trading Up 0.9%

ACHR stock opened at $11.37 on Monday. The business has a fifty day moving average price of $9.07 and a 200 day moving average price of $8.89. 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 fifty-two week low of $2.82 and a fifty-two week high of $13.92. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of -8.61 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. Analysts expect that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 80,919 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the sale, the chief technology officer now owns 1,253,294 shares in the company, valued at $16,280,289.06. This represents a 6.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mesler sold 34,498 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. The trade was a 4.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 451,859 shares of company stock worth $4,627,418. Insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Archer Aviation by 38.0% during the 1st quarter. Rhumbline Advisers now owns 430,920 shares of the company’s stock valued at $3,064,000 after purchasing an additional 118,598 shares in the last quarter. Strs Ohio acquired a new stake in Archer Aviation during the 1st quarter worth approximately $27,000. Intech Investment Management LLC lifted its stake in Archer Aviation by 89.4% in the first quarter. Intech Investment Management LLC now owns 196,100 shares of the company’s stock valued at $1,394,000 after buying an additional 92,553 shares in the last quarter. Focus Partners Wealth lifted its stake in Archer Aviation by 6.0% in the first quarter. Focus Partners Wealth now owns 38,284 shares of the company’s stock valued at $271,000 after buying an additional 2,179 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new position in shares of Archer Aviation in the first quarter valued at approximately $92,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.