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

Archer Aviation (NYSE:ACHR) had its target price lifted by Raymond James from $11.00 to $12.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on ACHR. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Archer Aviation Stock Performance

ACHR stock opened at $9.13 on Friday. The stock has a market capitalization of $3.88 billion, a PE ratio of -6.91 and a beta of 3.13. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $9.66 and its 200 day simple moving average is $6.12.

Insider Buying and Selling at Archer Aviation

In other news, General Counsel Eric Lentell sold 114,788 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total value of $773,671.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,057,729 shares of company stock worth $8,473,770. Insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC increased its stake in shares of Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after purchasing an additional 1,000 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares in the last quarter. Anchor Investment Management LLC increased its stake in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after buying an additional 1,246 shares during the period. Finally, Xponance Inc. boosted its holdings in Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.