HC Wainwright Issues Positive Forecast for Archer Aviation (NYSE:ACHR) Stock Price

Archer Aviation (NYSE:ACHR - Get Free Report) had its price target hoisted by equities research analysts at HC Wainwright from $12.00 to $18.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 57.63% from the stock's current price.

ACHR has been the topic of several other reports. Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Friday, May 16th. Needham & Company LLC restated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Finally, 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 research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $13.19.

Archer Aviation Trading Up 12.1%

Shares of NYSE:ACHR traded up $1.23 during trading on Monday, reaching $11.42. The company's stock had a trading volume of 45,456,375 shares, compared to its average volume of 24,166,820. 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 12 month low of $2.82 and a 12 month high of $13.92. The stock has a market capitalization of $6.27 billion, a PE ratio of -8.69 and a beta of 3.13. The firm's 50 day simple moving average is $8.90 and its two-hundred day simple moving average is $8.83.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data 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. On average, research analysts predict that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 80,919 shares of the business's stock in a transaction 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 transaction, the chief technology officer now owns 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mesler sold 34,498 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the transaction, the chief financial officer now owns 659,357 shares of the company's stock, valued at approximately $4,641,873.28. This trade represents a 4.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 451,859 shares of company stock worth $4,627,418. 7.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new stake in Archer Aviation during the 4th quarter valued at $27,000. Conquis Financial LLC bought a new position in shares of Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. increased its holdings in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. 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 purchasing an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares during the period. Institutional investors own 59.34% of the company's stock.

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.

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