Needham & Company LLC Increases Archer Aviation (NYSE:ACHR) Price Target to $13.00

Archer Aviation (NYSE:ACHR - Free Report) had its price target hoisted by Needham & Company LLC from $11.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.61.

Archer Aviation Trading Up 1.2 %

Shares of NYSE:ACHR traded up $0.10 during trading on Friday, reaching $7.98. 26,476,917 shares of the company traded hands, compared to its average volume of 33,452,617. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48. The business's fifty day moving average is $9.56 and its 200-day moving average is $6.31. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -6.03 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, analysts forecast that Archer Aviation will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 751,879 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the acquisition, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares in the company, valued at $10,083,240. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 907,729 shares of company stock worth $7,513,770. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC raised its position 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 buying an additional 1,000 shares during the period. Harbour Investments Inc. increased its stake in 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 period. Anchor Investment Management LLC increased its holdings in Archer Aviation by 58.3% during 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 during the last quarter. Sanctuary Advisors LLC raised its holdings in Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after acquiring an additional 1,299 shares during the last quarter. 59.34% of the stock is currently 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.