Archer Aviation (NYSE:ACHR) Rating Reiterated by Cantor Fitzgerald

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 168.46% from the company’s previous close.

A number of other research firms have also issued reports on ACHR. JPMorgan Chase & Co. lowered their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a report on Tuesday, May 21st. Finally, Barclays decreased their price objective on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, May 17th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.10.

Archer Aviation Stock Up 8.9 %

Shares of Archer Aviation stock opened at $3.73 on Monday. The stock has a 50-day moving average price of $3.55 and a 200 day moving average price of $4.50. The company has a market cap of $1.21 billion, a P/E ratio of -2.29 and a beta of 2.35. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08. Archer Aviation has a 1 year low of $3.00 and a 1 year high of $7.49.

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

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position 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 valued at $321,000 after purchasing an additional 5,611 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Archer Aviation by 50.0% in the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after purchasing an additional 8,246 shares during the last quarter. Interchange Capital Partners LLC grew its position in shares of Archer Aviation by 48.7% in the first quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after purchasing an additional 8,361 shares during the last quarter. Swiss National Bank grew its position in shares of Archer Aviation by 2.3% in the first quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Archer Aviation by 8.3% in the first quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock valued at $524,000 after purchasing an additional 8,717 shares during the last quarter. 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.