HC Wainwright Reiterates “Buy” Rating for Archer Aviation (NYSE:ACHR)

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $12.50 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 57.73% from the stock’s previous close.

ACHR has been the topic of several other reports. Canaccord Genuity Group decreased their price objective on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC lifted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.56.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $7.93 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The stock has a 50 day moving average of $9.60 and a 200-day moving average of $6.20. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.37 billion, a P/E ratio of -6.00 and a beta of 3.14.

Insider Activity at Archer Aviation

In other Archer Aviation news, Director Michael Spellacy sold 63,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $7.10, for a total value of $447,300.00. Following the transaction, the director now directly owns 191,513 shares of the company’s stock, valued at $1,359,742.30. This trade represents a 24.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Eric Lentell sold 114,788 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $6.74, for a total transaction of $773,671.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,057,729 shares of company stock worth $8,473,770. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACHR. EP Wealth Advisors LLC lifted its stake in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after purchasing an additional 1,000 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of 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 in the last quarter. Anchor Investment Management LLC lifted its position in shares of 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 buying an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC boosted its stake 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 buying an additional 1,246 shares in the last quarter. Finally, Xponance Inc. grew its position in Archer Aviation by 8.5% in the fourth 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 owned by 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.