Raymond James Forecasts Strong Price Appreciation for Archer Aviation (NYSE:ACHR) Stock

Archer Aviation (NYSE:ACHR) had its price objective upped by investment analysts at Raymond James from $11.00 to $12.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 22.60% from the company’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group dropped their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Archer Aviation Stock Performance

Shares of ACHR traded down $0.34 during mid-day trading on Friday, reaching $9.79. The company’s stock had a trading volume of 15,688,047 shares, compared to its average volume of 32,302,166. 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 stock has a market cap of $4.16 billion, a P/E ratio of -7.45 and a beta of 3.13. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $12.48. The business has a 50-day simple moving average of $9.65 and a two-hundred day simple moving average of $6.05.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last ninety days. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after buying an additional 6,371,647 shares during the period. Renaissance Technologies LLC bought a new stake in Archer Aviation in the fourth quarter worth $42,709,000. Alyeska Investment Group L.P. boosted its stake in Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after purchasing an additional 3,064,280 shares in the last quarter. Two Sigma Investments LP increased its holdings in Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock worth $29,377,000 after buying an additional 2,920,752 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after buying an additional 2,908,859 shares during the last quarter. 59.34% of the stock is currently 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.