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

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

Several other research analysts also recently commented on ACHR. JPMorgan Chase & Co. boosted their price objective 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. HC Wainwright started coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a buy rating and a $12.50 price objective on the stock. Finally, Benchmark reiterated a buy rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $9.00.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $2.91 on Monday. The stock’s fifty day moving average price is $3.66 and its two-hundred day moving average price is $3.89. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -1.79 and a beta of 2.32. Archer Aviation has a one year low of $2.82 and a one year high of $7.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49.

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

Insider Transactions at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% during 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 position in shares of 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 in the last quarter. Csenge Advisory Group acquired a new stake in Archer Aviation during the second quarter worth approximately $39,000. Tidal Investments LLC bought a new stake in Archer Aviation in the first quarter worth approximately $49,000. Finally, Choreo LLC acquired a new position in Archer Aviation in the second quarter valued at approximately $49,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.