Shares of Archer Aviation Inc. (NYSE:ACHR – Get Free Report) saw an uptick in trading volume on Wednesday . 2,582,778 shares changed hands during trading, a decline of 54% from the previous session’s volume of 5,626,698 shares.The stock last traded at $3.96 and had previously closed at $3.72.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on ACHR shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday. Barclays reduced their price target on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a report on Friday, May 17th. JPMorgan Chase & Co. cut their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Tuesday, May 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.
Read Our Latest Stock Analysis on Archer Aviation
Archer Aviation Trading Up 14.5 %
Archer Aviation (NYSE:ACHR – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same quarter in the previous year, the business posted ($0.46) EPS. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Vestor Capital LLC bought a new position in Archer Aviation during the 4th quarter valued at $61,000. Tidal Investments LLC purchased a new stake in shares of Archer Aviation in the first quarter valued at about $49,000. Keating Wealth Management LLC purchased a new position in Archer Aviation during the fourth quarter worth about $69,000. StoneX Group Inc. bought a new stake in Archer Aviation in the 4th quarter worth about $70,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Archer Aviation in the 4th quarter valued at about $75,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
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.
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