Archer Aviation (NYSE:ACHR) Given “Overweight” Rating at Cantor Fitzgerald

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

ACHR has been the topic of several other research reports. HC Wainwright began coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a buy rating and a $12.50 price objective on the stock. Benchmark restated a buy rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $9.00.

Archer Aviation Price Performance

ACHR stock opened at $3.12 on Monday. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. Archer Aviation has a 12 month low of $3.00 and a 12 month high of $7.01. The stock has a market cap of $1.01 billion, a PE ratio of -1.90 and a beta of 2.32. The company has a 50-day moving average price of $3.98 and a 200 day moving average price of $3.97.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.07. Equities research analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current year.

Insider Activity

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.17% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently bought and sold shares of ACHR. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC increased its position in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares in the last quarter. Csenge Advisory Group purchased a new stake in Archer Aviation in the second quarter valued at about $39,000. Tidal Investments LLC acquired a new stake in Archer Aviation in the first quarter worth about $49,000. Finally, Choreo LLC acquired a new stake in Archer Aviation in the second quarter worth about $49,000. 59.34% of the stock is currently 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.