Archer Aviation (NYSE:ACHR) Given “Overweight” Rating at Cantor Fitzgerald

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

Other analysts also recently issued research reports about the company. Benchmark restated 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 report on Tuesday, September 3rd. They issued a buy rating and a $12.50 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $9.00.

Archer Aviation Stock Performance

Archer Aviation stock opened at $3.06 on Monday. Archer Aviation has a fifty-two week low of $3.00 and a fifty-two week high of $7.01. The stock’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $3.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market cap of $990.09 million, a price-to-earnings ratio of -1.88 and a beta of 2.32.

Archer Aviation (NYSE:ACHR) last issued 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. As a group, analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the acquisition, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management boosted its position in shares of Archer Aviation by 50.0% during 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. Hsbc Holdings PLC boosted its holdings in shares of Archer Aviation by 14.8% during the 2nd 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 last quarter. CWM LLC grew 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 valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 5,611 shares during the last quarter. Finally, Arizona State Retirement System lifted its position 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 worth $210,000 after buying an additional 7,184 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other 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.