Archer Aviation (NYSE:ACHR) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a research note issued to investors on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price target on the stock.

Several other equities research analysts have also recently commented on ACHR. Barclays dropped their price objective on Archer Aviation from $6.50 to $4.50 and set an equal weight rating on the stock in a research report on Friday, May 17th. Benchmark restated a buy rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. HC Wainwright started coverage on shares of Archer Aviation in a research report on Tuesday. They issued a buy rating and a $12.50 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $9.00.

Archer Aviation Price Performance

Shares of ACHR stock opened at $3.38 on Tuesday. The business’s fifty day moving average is $4.07 and its 200 day moving average is $4.06. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -2.07 and a beta of 2.35. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.10.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. Research analysts expect that Archer Aviation will post -1.2 EPS for the current fiscal year.

Insider Activity 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. 27.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after acquiring an additional 3,341 shares during the period. CWM LLC raised its stake in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Archer Aviation by 8.8% in the 1st 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 in the last quarter. Finally, Arizona State Retirement System boosted its stake in Archer Aviation by 13.7% in the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after purchasing an additional 7,184 shares during the period. 59.34% of the stock is currently owned by 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.