Archer Aviation’s (ACHR) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a research note released on Monday, Benzinga reports. They currently have a $10.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Benchmark reiterated a buy rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. HC Wainwright initiated coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They issued a buy rating and a $12.50 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an overweight rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has a consensus rating of Moderate Buy and a consensus price target of $9.00.

Archer Aviation Trading Down 0.8 %

NYSE ACHR opened at $2.95 on Monday. The company has a market cap of $952.88 million, a P/E ratio of -1.81 and a beta of 2.31. The company has a 50-day moving average of $3.38 and a 200-day moving average of $3.75. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $7.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. As a group, equities analysts predict that Archer Aviation will post -1.33 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of Archer Aviation stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its position in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the period. CWM LLC lifted its holdings in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Code Waechter LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the 3rd quarter valued at about $31,000. Finally, Tidal Investments LLC acquired a new position in shares of Archer Aviation in the 1st quarter worth approximately $49,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.