JPMorgan Chase & Co. Raises Archer Aviation (NYSE:ACHR) Price Target to $10.00

Key Points

• JPMorgan Chase & Co. raised the price target for Archer Aviation (NYSE:ACHR) from $9.00 to $10.00, maintaining a "neutral" rating, indicating a potential upside of 2.28% from its current price.
• Despite JPMorgan's update, a number of other firms have issued more optimistic ratings, with HC Wainwright and others providing price targets up to $18.00, reflecting a consensus rating of "Moderate Buy" with an average target price of $13.25.
• Archer Aviation's stock has experienced fluctuations, recently trading down 2.5% to $9.78, amidst significant insider selling, including Chief Technology Officer Thomas Paul Muniz offloading 80,919 shares.

Archer Aviation (NYSE:ACHR - Get Free Report) had its target price upped by stock analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 3.52% from the company's previous close.

A number of other equities analysts have also weighed in on ACHR. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target (up previously from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Finally, UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.25.

Archer Aviation Price Performance

Shares of NYSE ACHR traded down $0.37 on Friday, hitting $9.66. The company's stock had a trading volume of 29,683,027 shares, compared to its average volume of 38,452,988. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $13.92. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -7.37 and a beta of 3.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.80 and a quick ratio of 15.80. The stock has a 50 day moving average of $10.64 and a 200-day moving average of $9.34.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. As a group, research analysts predict that Archer Aviation will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 80,919 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 $1,051,137.81. Following the completion of the sale, the chief technology officer directly owned 1,253,294 shares in the company, valued at $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 13,210 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the sale, the chief financial officer owned 134,104 shares of the company's stock, valued at approximately $1,742,010.96. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,960 shares of company stock valued at $4,018,019 over the last quarter. Company insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. AlphaQuest LLC grew its stake in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after buying an additional 2,375 shares during the period. Sunbelt Securities Inc. purchased a new stake in Archer Aviation during the fourth quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after buying an additional 2,024 shares during the period. Conquis Financial LLC purchased a new stake in Archer Aviation during the fourth quarter worth approximately $29,000. Finally, Oarsman Capital Inc. grew its stake in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after buying an additional 2,547 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.