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

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 226.26% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut their price objective on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Barclays decreased their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.10.

Archer Aviation Price Performance

NYSE:ACHR opened at $3.07 on Monday. Archer Aviation has a 12-month low of $3.00 and a 12-month high of $7.49. The firm has a market cap of $991.71 million, a price-to-earnings ratio of -1.88 and a beta of 2.35. The company’s 50-day moving average is $3.64 and its two-hundred day moving average is $4.71. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same quarter in the prior year, the business posted ($0.46) earnings per share. Research analysts expect that Archer Aviation will post -1.33 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Archer Aviation by 20.1% during the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after acquiring an additional 1,394,872 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Archer Aviation during the 1st quarter worth approximately $5,782,000. ARK Investment Management LLC lifted its holdings in shares of Archer Aviation by 4.7% in the 4th quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock worth $152,931,000 after purchasing an additional 1,116,908 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in Archer Aviation during the 4th quarter valued at approximately $3,825,000. Finally, Seven Eight Capital LP bought a new position in Archer Aviation during the 3rd quarter worth $2,739,000. 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.