Archer Aviation’s (ACHR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group raised their price objective on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Price Performance

NYSE ACHR opened at $8.87 on Wednesday. The firm’s 50 day moving average is $8.11 and its 200-day moving average is $9.54. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.78 billion, a PE ratio of -7.04 and a beta of 3.10. Archer Aviation has a 12-month low of $5.48 and a 12-month high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Equities research analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the sale, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This trade represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the completion of the transaction, the insider owned 334,632 shares in the company, valued at approximately $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 307,635 shares of company stock valued at $2,367,936 over the last 90 days. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Balboa Wealth Partners boosted its position in shares of Archer Aviation by 90.7% in the fourth quarter. Balboa Wealth Partners now owns 23,450 shares of the company’s stock valued at $176,000 after acquiring an additional 11,150 shares during the period. Capital Advisors Inc. OK bought a new stake in Archer Aviation in the 4th quarter valued at about $117,000. Nikulski Financial Inc. bought a new stake in Archer Aviation in the 4th quarter valued at about $367,000. Spire Wealth Management grew its position in shares of Archer Aviation by 39.7% during the 4th quarter. Spire Wealth Management now owns 9,706 shares of the company’s stock worth $73,000 after purchasing an additional 2,760 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Archer Aviation by 91.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 15,749 shares of the company’s stock worth $118,000 after purchasing an additional 7,529 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.