Fintel reports that on November 19, 2024, Needham initiated coverage of Archer Aviation (NYSE:ACHR) with a Buy recommendation.
Analyst Price Forecast Suggests 119.73% Upside
As of October 22, 2024, the average one-year price target for Archer Aviation is $9.69/share. The forecasts range from a low of $4.54 to a high of $13.12. The average price target represents an increase of 119.73% from its latest reported closing price of $4.41 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Archer Aviation is 8MM. The projected annual non-GAAP EPS is -1.05.
What is the Fund Sentiment?
There are 381 funds or institutions reporting positions in Archer Aviation. This is an increase of 30 owner(s) or 8.55% in the last quarter. Average portfolio weight of all funds dedicated to ACHR is 0.08%, an increase of 1.33%. Total shares owned by institutions increased in the last three months by 10.30% to 181,094K shares. 
The put/call ratio of ACHR is 0.12, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 23,540K shares representing 6.05% ownership of the company. In its prior filing, the firm reported owning 25,457K shares , representing a decrease of 8.14%. The firm decreased its portfolio allocation in ACHR by 17.96% over the last quarter.
BlackRock holds 20,388K shares representing 5.24% ownership of the company.
ARKK - ARK Innovation ETF holds 15,589K shares representing 4.01% ownership of the company. In its prior filing, the firm reported owning 16,503K shares , representing a decrease of 5.86%. The firm increased its portfolio allocation in ACHR by 8.62% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 9,343K shares representing 2.40% ownership of the company. In its prior filing, the firm reported owning 10,029K shares , representing a decrease of 7.35%. The firm decreased its portfolio allocation in ACHR by 24.71% over the last quarter.
Nikko Asset Management Americas holds 9,337K shares representing 2.40% ownership of the company. In its prior filing, the firm reported owning 10,019K shares , representing a decrease of 7.31%. The firm decreased its portfolio allocation in ACHR by 21.28% over the last quarter.
Archer Aviation Background Information
(This description is provided by the company.)
Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility. Archer's team is based in Palo Alto, CA.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
