Archer Aviation’s (ACHR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Archer Aviation (NYSE:ACHR) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $18.00 price objective on the stock.

ACHR has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, UBS Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.43.

Archer Aviation Stock Up 7.4%

Archer Aviation stock opened at $10.25 on Tuesday. The company has a 50-day simple moving average of $10.59 and a 200-day simple moving average of $9.37. The firm has a market capitalization of $5.63 billion, a P/E ratio of -7.59 and a beta of 3.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. Archer Aviation has a one year low of $2.82 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). As a group, equities analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity

In related news, General Counsel Eric Lentell sold 95,896 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mesler sold 50,775 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $659,567.25. Following the transaction, the chief financial officer directly owned 711,525 shares in the company, valued at $9,242,709.75. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,960 shares of company stock valued at $4,018,019 in the last three months. 7.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. grew its position in Archer Aviation by 177.7% during the second quarter. J.W. Cole Advisors Inc. now owns 65,388 shares of the company’s stock valued at $709,000 after purchasing an additional 41,844 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Archer Aviation by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 3,622 shares of the company’s stock valued at $39,000 after acquiring an additional 1,471 shares during the last quarter. XTX Topco Ltd acquired a new stake in Archer Aviation in the second quarter valued at approximately $496,000. Steward Partners Investment Advisory LLC lifted its stake in Archer Aviation by 4.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 81,296 shares of the company’s stock valued at $882,000 after acquiring an additional 3,300 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Archer Aviation by 63.5% in the second quarter. CreativeOne Wealth LLC now owns 37,345 shares of the company’s stock valued at $405,000 after acquiring an additional 14,507 shares during the last quarter. 59.34% of the stock is 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.