In a report released today, Josh Sullivan from Benchmark Co. maintained a Buy rating on Archer Aviation (ACHR – Research Report), with a price target of $12.00. The company’s shares closed yesterday at $4.55.
Sullivan covers the Industrials sector, focusing on stocks such as HEICO, Spirit AeroSystems, and VSE. According to TipRanks, Sullivan has an average return of 6.5% and a 57.85% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Archer Aviation with a $9.50 average price target, which is a 108.79% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $9.00 price target.
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Based on Archer Aviation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $184.1 million. In comparison, last year the company had a GAAP net loss of $71.7 million
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACHR in relation to earlier this year.
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Archer Aviation (ACHR) Company Description:
Atlas Crest Investment Corp is a blank check company.
Read More on ACHR:
- Archer Aviation announces securities lawsuit voluntarily dismissed by plaintiff
- Archer Aviation up 4% after Stellantis raises stake with 12.3M share purchase
- Cathie Wood’s ARK Investment bought 188K shares of Archer Aviation today
- Archer Aviation call volume above normal and directionally bullish
- Cathie Wood Pours Millions Into These 2 Stocks, Analysts Say They Have Strong Upside Potential — Here’s Why You Should Pay Attention
