Cantor Fitzgerald Reiterates Overweight Rating for Archer Aviation (NYSE:ACHR)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a research report report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $10.00 target price on the stock.

Several other brokerages have also commented on ACHR. JPMorgan Chase & Co. raised their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Benchmark restated a buy rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Finally, Barclays reduced their price target on Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $8.30.

Archer Aviation Stock Performance

Shares of ACHR opened at $3.78 on Monday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -2.24 and a beta of 2.35. The firm has a fifty day moving average of $3.99 and a 200-day moving average of $4.19. Archer Aviation has a 1 year low of $3.00 and a 1 year high of $7.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01.

Insider Activity

In other news, major shareholder N.V. Stellantis bought 2,982,089 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.17% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $294,000. Herold Advisors Inc. boosted its holdings in Archer Aviation by 280.2% during the fourth quarter. Herold Advisors Inc. now owns 64,954 shares of the company’s stock worth $399,000 after buying an additional 47,872 shares in the last quarter. Sargent Investment Group LLC grew its position in Archer Aviation by 6.3% in the fourth quarter. Sargent Investment Group LLC now owns 203,130 shares of the company’s stock worth $1,247,000 after buying an additional 11,980 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Archer Aviation by 50.0% in the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after buying an additional 8,246 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Archer Aviation by 29.5% during the 4th quarter. Swiss National Bank now owns 368,100 shares of the company’s stock valued at $2,260,000 after acquiring an additional 83,800 shares during the last quarter. 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.