Cantor Fitzgerald Reiterates Overweight Rating for Archer Aviation (NYSE:ACHR)

Cantor Fitzgerald reissued their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $10.00 price target on the stock.

Several other research analysts also recently weighed in on ACHR. Benchmark reissued a buy rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright started 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. JPMorgan Chase & Co. raised 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. Finally, Barclays cut their price target on Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $9.00.

Archer Aviation Trading Up 0.2 %

Shares of ACHR opened at $3.31 on Monday. 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 has a 1-year low of $3.00 and a 1-year high of $7.01. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -2.03 and a beta of 2.33. The firm has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $3.99.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.07. Equities analysts forecast that Archer Aviation will post -1.33 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 27.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares in the last quarter. Hsbc Holdings PLC raised its position in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares during the period. CWM LLC lifted its stake in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Archer Aviation by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after buying an additional 5,611 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Archer Aviation by 13.7% in the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock valued at $210,000 after buying an additional 7,184 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.