Archer Aviation (NYSE:ACHR) Earns “Overweight” Rating from Cantor Fitzgerald

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

A number of other research firms have also recently issued reports on ACHR. JPMorgan Chase & Co. increased their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an overweight rating in a research report on Wednesday, July 24th. Benchmark reissued a buy rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. Finally, HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a buy rating and a $12.50 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $9.00.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $3.06 on Monday. Archer Aviation has a 12 month low of $3.00 and a 12 month high of $7.01. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $990.09 million, a price-to-earnings ratio of -1.88 and a beta of 2.32. The business’s 50-day moving average price is $3.87 and its 200-day moving average price is $3.93.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. Equities research analysts forecast that Archer Aviation will post -1.33 EPS for the current year.

Insider Activity

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 27.17% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares during the period. CWM LLC raised its position 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 last quarter. Csenge Advisory Group purchased a new stake in Archer Aviation in the 2nd quarter worth approximately $39,000. Tidal Investments LLC bought a new stake in shares of Archer Aviation in the 1st quarter worth approximately $49,000. Finally, Choreo LLC purchased a new position in shares of Archer Aviation during the second quarter valued at approximately $49,000. Institutional investors own 59.34% of the company’s stock.

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.