Archer Aviation (NYSE:ACHR) Stock Rating Reaffirmed by Cantor Fitzgerald

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

A number of other research analysts have also recently weighed in on ACHR. Benchmark reissued a buy rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a buy rating and a $12.50 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. One 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 company currently has an average rating of Moderate Buy and an average price target of $9.00.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $2.95 on Monday. The company’s fifty day moving average is $3.54 and its two-hundred day moving average is $3.83. 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 firm has a market capitalization of $952.88 million, a P/E ratio of -1.81 and a beta of 2.31. Archer Aviation has a one year low of $2.82 and a one year high of $7.01.

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

Insider Transactions at Archer Aviation

In other Archer Aviation 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 bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management raised its holdings 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 purchasing an additional 3,000 shares during the period. CWM LLC raised its stake in 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 acquiring an additional 3,559 shares during the period. Csenge Advisory Group bought a new position in Archer Aviation in the second quarter worth about $39,000. Tidal Investments LLC acquired a new position in Archer Aviation in the first quarter valued at approximately $49,000. Finally, Choreo LLC bought a new position in shares of Archer Aviation during the second quarter valued at approximately $49,000. Institutional investors and hedge funds 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.