Archer Aviation’s (ACHR) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $10.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 194.99% from the stock’s previous close.

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

Archer Aviation Trading Down 3.7 %

NYSE ACHR traded down $0.13 during trading hours on Monday, reaching $3.39. The company had a trading volume of 1,827,510 shares, compared to its average volume of 5,590,282. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.10 billion, a P/E ratio of -2.08 and a beta of 2.35. The stock has a 50-day moving average of $3.57 and a 200 day moving average of $4.54. Archer Aviation has a 1-year low of $3.00 and a 1-year high of $7.49.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same quarter in the prior year, the firm posted ($0.46) earnings per share. As a group, research analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Archer Aviation by 20.1% during the 3rd 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 in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Archer Aviation during the first quarter worth about $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 valued at $152,931,000 after purchasing an additional 1,116,908 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Archer Aviation in the 4th quarter valued at about $3,825,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at about $2,739,000. 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.