Archer Aviation's (ACHR) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Archer Aviation (NYSE:ACHR - Free Report) in a research note published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $12.50 target price on the stock.

A number of other equities analysts also recently weighed in on ACHR. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday. Finally, Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $11.61.

Archer Aviation Trading Up 2.4%

Archer Aviation stock traded up $0.29 during trading hours on Tuesday, reaching $12.13. 42,411,212 shares of the company's stock traded hands, compared to its average volume of 22,326,282. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The firm's 50 day moving average is $7.92 and its 200-day moving average is $7.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of -9.19 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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. On average, analysts predict that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares in the company, valued at approximately $409,832.50. This trade represents a 44.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares of the company's stock, valued at $4,852,871.10. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 474,780 shares of company stock valued at $3,581,581. 7.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its stake in shares of Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after buying an additional 3,339 shares during the period. Salem Investment Counselors Inc. lifted its position in shares of Archer Aviation by 83.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 11,000 shares of the company's stock worth $107,000 after acquiring an additional 5,000 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of Archer Aviation in the fourth quarter worth $1,023,000. 180 Wealth Advisors LLC purchased a new position in shares of Archer Aviation in the fourth quarter valued at $105,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Archer Aviation by 25.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 55,750 shares of the company's stock valued at $544,000 after purchasing an additional 11,317 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.