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

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $10.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 229.49% from the stock’s previous close.

Several other equities analysts have also recently commented on ACHR. HC Wainwright started coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Performance

Archer Aviation stock opened at $3.04 on Monday. The firm has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $3.90. Archer Aviation has a 52-week low of $3.00 and a 52-week high of $7.01. The firm has a market capitalization of $982.00 million, a price-to-earnings ratio of -1.86 and a beta of 2.32. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.07. Sell-side analysts expect that Archer Aviation will post -1.33 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently bought and sold shares of ACHR. Hollencrest Capital Management boosted its holdings 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 worth $32,000 after buying an additional 3,000 shares during the period. CWM LLC boosted its stake in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. Csenge Advisory Group purchased a new position in Archer Aviation during the 2nd quarter worth approximately $39,000. Tidal Investments LLC purchased a new position in Archer Aviation during the 1st quarter worth approximately $49,000. Finally, Choreo LLC acquired a new stake in Archer Aviation during the 2nd quarter valued at $49,000. Hedge funds and other 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.