Archer Aviation (NYSE:ACHR) Earns “Overweight” Rating from Cantor Fitzgerald

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 116.92% from the company’s current price.

Several other research firms have also recently commented on ACHR. 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 research note on Friday, May 17th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. cut their price objective on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded down $0.03 during trading hours on Monday, hitting $4.61. 3,319,001 shares of the company were exchanged, compared to its average volume of 6,191,524. Archer Aviation has a 1 year low of $3.00 and a 1 year high of $7.49. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $3.75 and a 200-day moving average of $4.35. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -2.83 and a beta of 2.35.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period last year, the firm posted ($0.46) earnings per share. As a group, analysts expect that Archer Aviation will post -1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares in the last quarter. Vestor Capital LLC acquired a new stake in shares of Archer Aviation during the fourth quarter valued at $61,000. Tidal Investments LLC acquired a new stake in shares of Archer Aviation during the first quarter valued at $49,000. Csenge Advisory Group acquired a new stake in shares of Archer Aviation during the second quarter valued at $39,000. Finally, StoneX Group Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter valued at $70,000. 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.