Archer Aviation (NYSE:ACHR) Price Target Lowered to $4.50 at Barclays

Archer Aviation (NYSE:ACHR - Get Free Report) had its price objective decreased by research analysts at Barclays from $6.50 to $4.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 21.62% from the company's current price.

ACHR has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on Archer Aviation from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price objective on shares of Archer Aviation in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded down $0.11 during trading hours on Friday, reaching $3.70. 5,960,310 shares of the stock were exchanged, compared to its average volume of 4,948,531. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.23 and a beta of 2.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. Archer Aviation has a 52 week low of $2.79 and a 52 week high of $7.49. The stock's fifty day simple moving average is $4.28 and its 200 day simple moving average is $5.10.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08). During the same period in the prior year, the company posted ($0.46) earnings per share. Sell-side analysts predict that Archer Aviation will post -1.45 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 800,000 shares of Archer Aviation stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $4.60 per share, with a total value of $3,680,000.00. Following the acquisition, the insider now owns 35,451,720 shares in the company, valued at approximately $163,077,912. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 3,150,000 shares of company stock valued at $15,724,500. 27.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently modified their holdings of ACHR. Tidal Investments LLC acquired a new position in Archer Aviation during the 1st quarter worth about $49,000. Price T Rowe Associates Inc. MD lifted its holdings in Archer Aviation by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company's stock worth $321,000 after buying an additional 5,611 shares during the period. Alpine Global Management LLC acquired a new position in Archer Aviation during the 1st quarter worth about $5,782,000. Axxcess Wealth Management LLC lifted its holdings in Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company's stock worth $138,000 after buying an additional 9,713 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in Archer Aviation during the 1st quarter worth about $117,000. Institutional investors and hedge funds 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.