Archer Aviation (NYSE:ACHR) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $10.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a report on Friday, May 17th. Benchmark reissued a buy rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. 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 report on Wednesday, July 24th. Finally, HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday. They set a buy rating and a $12.50 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Archer Aviation has an average rating of Moderate Buy and a consensus price target of $9.00.

Archer Aviation Stock Down 4.9 %

Shares of Archer Aviation stock opened at $3.09 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market capitalization of $999.79 million, a PE ratio of -1.90 and a beta of 2.32. Archer Aviation has a 52-week low of $3.00 and a 52-week high of $7.10. The company has a 50-day simple moving average of $4.05 and a two-hundred day simple moving average of $4.04.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.07. On average, analysts anticipate that Archer Aviation will post -1.2 EPS for the current fiscal year.

Insider Activity 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 stock was bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.17% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Hollencrest Capital Management boosted its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the period. CWM LLC boosted its position in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. Csenge Advisory Group bought a new position in shares of Archer Aviation in the second quarter worth approximately $39,000. Tidal Investments LLC bought a new position in shares of Archer Aviation in the first quarter worth approximately $49,000. Finally, Choreo LLC bought a new position in shares of Archer Aviation in the second quarter worth approximately $49,000. 59.34% of the stock is currently owned by 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.