Archer Aviation (NYSE:ACHR) Trading Down 4.9%

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 4.9% during trading on Tuesday . The stock traded as low as $4.24 and last traded at $4.24. Approximately 4,009,634 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 6,200,747 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

A number of brokerages have commented on ACHR. Barclays decreased their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, May 17th. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research note on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.30.

Archer Aviation Trading Down 6.5 %

The firm has a market capitalization of $1.35 billion, a P/E ratio of -2.55 and a beta of 2.35. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $3.83 and a 200-day moving average of $4.31.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same quarter last year, the business posted ($0.46) EPS. On average, equities research analysts predict that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. Vestor Capital LLC bought a new position in Archer Aviation during the 4th quarter valued at approximately $61,000. Tidal Investments LLC purchased a new position in Archer Aviation during the 1st quarter valued at $49,000. Csenge Advisory Group bought a new position in Archer Aviation in the second quarter worth about $39,000. Finally, StoneX Group Inc. purchased a new position in shares of Archer Aviation in the 4th quarter valued at approximately $70,000. 59.34% of the stock is owned by hedge funds and other 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.