Archer Aviation (NYSE:ACHR) Given Overweight Rating at Cantor Fitzgerald

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

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

Archer Aviation Stock Performance

Shares of ACHR opened at $3.06 on Monday. The firm has a fifty day moving average of $3.90 and a 200-day moving average of $3.94. The company has a market cap of $990.09 million, a price-to-earnings ratio of -1.88 and a beta of 2.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. Archer Aviation has a 1 year low of $3.00 and a 1 year high of $7.01.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.07. As a group, equities analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was 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 of the company’s stock, valued at $200,112,122.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of ACHR. Axxcess Wealth Management LLC grew its holdings in shares of Archer Aviation by 48.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after acquiring an additional 9,713 shares during the last quarter. Victory Capital Management Inc. increased its stake in Archer Aviation by 50.0% in the 4th quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after purchasing an additional 8,246 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after buying an additional 8,717 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Archer Aviation during the fourth quarter valued at about $230,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 19.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock worth $8,513,000 after buying an additional 228,487 shares during the period. Institutional investors and hedge funds 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.