Archer Aviation Inc. (NYSE:ACHR – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.42, but opened at $3.49. Archer Aviation shares last traded at $3.77, with a volume of 1,565,784 shares trading hands.
Analyst Upgrades and Downgrades
ACHR has been the topic of a number of research reports. 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. decreased their target price on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Benchmark reissued a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Tuesday, May 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.
Read Our Latest Research Report on Archer Aviation
Archer Aviation Trading Up 7.3 %
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly 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 last year, the company posted ($0.46) EPS. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.33 earnings per share for the current year.
Hedge Funds Weigh In On Archer Aviation
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in Archer Aviation during the first quarter valued at $49,000. Janney Montgomery Scott LLC purchased a new stake in Archer Aviation during the third quarter valued at $52,000. Vestor Capital LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $61,000. PFG Investments LLC purchased a new stake in Archer Aviation during the first quarter valued at $67,000. Finally, Keating Wealth Management LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $69,000. Institutional investors own 59.34% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Archer Aviation
- 3 Stocks to Consider Buying in October
- 3 Mining Stocks to Watch as Silver Prices Reach 12-Year High
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Guidewire Software Stock Up 150%: Rally Is Just Starting
- How to invest in marijuana stocks in 7 stepsĀ
- The Top 4 Magnificent 7 Stocks to Buy in the Year’s Second Half
Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.