Archer Aviation Inc. (NYSE:ACHR – Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 57,860,000 shares, a growth of 15.1% from the June 30th total of 50,280,000 shares. Based on an average trading volume of 7,370,000 shares, the short-interest ratio is presently 7.9 days. Currently, 28.6% of the shares of the stock are short sold.
Analyst Ratings Changes
ACHR has been the subject of several analyst reports. Barclays lowered their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research report on Friday, May 17th. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, July 22nd. Finally, Benchmark restated a “buy” rating and issued a $12.00 target price 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 company’s stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $8.30.
Check Out Our Latest Research Report on ACHR
Institutional Investors Weigh In On Archer Aviation
Archer Aviation Price Performance
Shares of NYSE ACHR opened at $4.26 on Wednesday. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.49. The stock’s 50 day moving average price is $3.85 and its 200-day moving average price is $4.30. The company has a market capitalization of $1.38 billion, a PE ratio of -2.60 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.
Archer Aviation (NYSE:ACHR – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the previous year, the firm posted ($0.46) earnings per share. On average, equities analysts anticipate that Archer Aviation will post -1.33 EPS for the current year.
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.
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