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

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 230.58% from the company’s current price.

A number of other equities research analysts also recently issued reports on ACHR. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright began coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Price Performance

NYSE:ACHR opened at $3.03 on Monday. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $7.01. The stock’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.76. The stock has a market capitalization of $978.76 million, a PE ratio of -1.86 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last announced its 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. As a group, equities analysts expect that Archer Aviation will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

A number of large investors have recently bought and sold shares of the stock. Hollencrest Capital Management raised its stake in shares of Archer Aviation by 50.0% in the second 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 last quarter. CWM LLC boosted its position 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. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the 3rd quarter valued at about $31,000. Tidal Investments LLC acquired a new position in shares of Archer Aviation in the first quarter valued at approximately $49,000. Finally, Csenge Advisory Group acquired a new position in Archer Aviation in the 2nd quarter worth $39,000. 59.34% of the stock is currently owned by institutional investors.

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.