Cantor Fitzgerald reiterated their overweight rating on shares of Archer Aviation (NYSE:ACHR – Free Report) in a research report report published on Monday morning, Benzinga reports. They currently have a $10.00 target price on the stock.
A number of other research analysts have also recently commented on ACHR. Barclays dropped their price target on Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a research note on Friday, May 17th. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $7.00 to $5.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Finally, Benchmark reissued a buy rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $8.10.
Get Our Latest Analysis on ACHR
Archer Aviation Stock Performance
Archer Aviation (NYSE:ACHR – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the previous year, the business posted ($0.46) EPS. As a group, equities analysts predict that Archer Aviation will post -1.33 EPS for the current year.
Hedge Funds Weigh In On Archer Aviation
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in shares of Archer Aviation during the 1st quarter worth $49,000. Janney Montgomery Scott LLC bought a new stake in shares of Archer Aviation during the third quarter valued at about $52,000. Vestor Capital LLC bought a new position in shares of Archer Aviation in the fourth quarter worth $61,000. PFG Investments LLC purchased a new position in Archer Aviation during the first quarter worth about $67,000. Finally, Keating Wealth Management LLC purchased a new position in shares of Archer Aviation during the fourth quarter worth about $69,000. 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.
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