Archer Aviation Inc. (NYSE:ACHR) Short Interest Update

Archer Aviation Inc. (NYSE:ACHR) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 54,460,000 shares, a decline of 6.0% from the May 31st total of 57,920,000 shares. Approximately 26.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,380,000 shares, the days-to-cover ratio is presently 10.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, May 17th. JPMorgan Chase & Co. lowered their price target on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Archer Aviation Stock Up 8.9 %

ACHR opened at $3.73 on Wednesday. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.49. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $3.55 and a 200 day moving average price of $4.50. The company has a market cap of $1.21 billion, a PE ratio of -2.29 and a beta of 2.35.

Archer Aviation (NYSE:ACHR) last released 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 period in the previous year, the business posted ($0.46) EPS. Sell-side analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

A number of hedge funds have recently bought and sold shares of ACHR. Tidal Investments LLC acquired a new stake in Archer Aviation in the 1st quarter valued at about $49,000. Janney Montgomery Scott LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $52,000. Vestor Capital LLC purchased a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $61,000. PFG Investments LLC purchased a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $67,000. Finally, Keating Wealth Management LLC purchased a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.