Deutsche Bank Aktiengesellschaft Raises Archer Aviation (NYSE:ACHR) Price Target to $15.00

Archer Aviation (NYSE:ACHR) had its target price boosted by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 78.78% from the stock’s current price.

Several other brokerages have also recently issued reports on ACHR. Canaccord Genuity Group boosted their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC started coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, HC Wainwright started coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.25.

Archer Aviation Trading Up 17.0 %

Shares of NYSE ACHR opened at $8.39 on Friday. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $9.84. The business has a fifty day moving average price of $4.89 and a 200 day moving average price of $4.09. The stock has a market capitalization of $3.57 billion, a P/E ratio of -6.36 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) EPS. Equities research analysts expect that Archer Aviation will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein purchased 19,762 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah Diaz acquired 5,150 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the acquisition, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. The trade was a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. Tidal Investments LLC lifted its position in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Archer Aviation in the third quarter valued at approximately $80,000. Barclays PLC lifted its stake in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at $583,000. 59.34% of the stock is currently owned by hedge funds and other 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.