Archer Aviation (NYSE:ACHR) Stock Rating Reaffirmed by Cantor Fitzgerald

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 227.87% from the stock’s current price.

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

Archer Aviation Price Performance

NYSE ACHR traded down $0.01 during mid-day trading on Monday, hitting $3.05. The stock had a trading volume of 1,636,288 shares, compared to its average volume of 6,933,661. Archer Aviation has a 52-week low of $3.00 and a 52-week high of $7.01. The company has a market cap of $986.85 million, a price-to-earnings ratio of -1.87 and a beta of 2.32. The company has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $3.92. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management boosted its position in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the period. CWM LLC increased its stake 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 during the period. Csenge Advisory Group bought a new stake in Archer Aviation during the second quarter worth approximately $39,000. Tidal Investments LLC bought a new stake in shares of Archer Aviation in the 1st quarter worth $49,000. Finally, Choreo LLC bought a new stake in Archer Aviation in the second quarter worth about $49,000. 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.