Cantor Fitzgerald reaffirmed their overweight rating on shares of Archer Aviation (NYSE:ACHR – Free Report) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock.
Other equities analysts also recently issued reports about the company. Benchmark reaffirmed a buy rating and issued a $12.00 price target on shares of Archer Aviation in a report on Tuesday, May 21st. JPMorgan Chase & Co. lowered their price target on Archer Aviation from $7.00 to $5.00 and set an overweight rating for the company in a report on Friday, May 3rd. Finally, Barclays decreased their price objective on Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a report on Friday, May 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $8.10.
View Our Latest Analysis on ACHR
Archer Aviation Stock Down 2.7 %
Archer Aviation (NYSE:ACHR – Get Free Report) last announced its quarterly earnings results 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 earned ($0.46) earnings per share. On average, equities research analysts anticipate that Archer Aviation will post -1.33 EPS for the current fiscal year.
Institutional Investors Weigh In On Archer Aviation
Several large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in Archer Aviation in the 3rd quarter valued at $52,000. Charles Schwab Investment Management Inc. grew its position in Archer Aviation by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,919 shares of the company’s stock valued at $5,859,000 after buying an additional 42,645 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in Archer Aviation by 165.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 162,729 shares of the company’s stock valued at $823,000 after buying an additional 101,414 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Archer Aviation in the 3rd quarter valued at $102,000. Finally, AXQ Capital LP purchased a new position in Archer Aviation in the 3rd quarter valued at $71,000. 59.34% of the stock is owned by institutional investors and hedge funds.
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.
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