Archer Aviation (NYSE:ACHR) Price Target Raised to $12.00 at Raymond James

Archer Aviation (NYSE:ACHR) had its price target boosted by Raymond James from $11.00 to $12.00 in a research note released on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group cut their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $9.13 on Friday. The company has a market capitalization of $3.88 billion, a P/E ratio of -6.91 and a beta of 3.13. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48. 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 company’s 50 day moving average price is $9.66 and its two-hundred day moving average price is $6.09.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis bought 751,879 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 over the last ninety days. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of ACHR. Sunbelt Securities Inc. bought a new stake in Archer Aviation in the 4th quarter valued at $27,000. PharVision Advisers LLC acquired a new stake in shares of Archer Aviation during the 4th quarter worth about $187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Archer Aviation by 62.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after buying an additional 215,593 shares during the period. Vident Advisory LLC bought a new position in Archer Aviation in the 4th quarter valued at about $186,000. Finally, Two Sigma Advisers LP acquired a new stake in Archer Aviation during the fourth quarter worth approximately $2,877,000. Institutional investors own 59.34% of the company’s stock.

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.