Archer Aviation Inc. (NYSE:ACHR) has garnered a consensus rating of “Moderate Buy” from eight analysts who are closely monitoring the company, as reported by MarketBeat Ratings. Out of these analysts, one has recommended holding the stock, while seven have given it a buy rating. The average one-year price target for the shares among these analysts stands at $12.50.
Recent reports from analysts have shown positive interest in Archer Aviation’s stock. For instance, Raymond James raised its price target from $11.00 to $12.00, while Cantor Fitzgerald issued an “overweight” rating with a target price of $13.00. Similarly, Needham & Company and HC Wainwright have maintained “buy” ratings, with price targets of $13.00 and $12.50, respectively.
In insider trading news, Tosha Perkins, an insider, sold 33,335 shares at an average price of $7.04, totaling approximately $234,678. Following this sale, Perkins retained ownership of 262,673 shares valued at about $1.85 million. Another insider, CTO Thomas Paul Muniz, sold 52,958 shares for around $372,824.32, and now holds 1,173,905 shares worth approximately $8.26 million.
Institutional activity has also been notable, with several firms adjusting their positions in Archer Aviation. Spire Wealth Management significantly increased its holdings by 266.7% during the fourth quarter. Other institutions such as Apollon Wealth Management and Entropy Technologies LP have also established new positions in the company.
Archer Aviation experienced a surge in trading, closing up $0.81 on Friday to reach $10.17, with a trading volume of over 40 million shares—well above its average. The company boasts a market capitalization of $5.58 billion and recorded a PE ratio of -7.70.
Archer Aviation focuses on designing, developing, and operating electric vertical takeoff and landing aircraft aimed at enhancing urban air mobility. This innovative approach positions the company well within the emerging aerospace sector.
Overall, Archer Aviation is receiving attention from both analysts and institutional investors, which suggests a growing confidence in its future performance amidst an evolving market landscape for urban air mobility solutions.