Archer Aviation’s (ACHR) “Buy” Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Archer Aviation (NYSE:ACHR) in a research note published on Tuesday, Benzinga reports. The firm currently has a $12.00 price target on the stock.

A number of other brokerages have also recently commented on ACHR. Cantor Fitzgerald restated an overweight rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price target on Archer Aviation from $7.00 to $5.00 and set an overweight rating for the company in a research report on Friday, May 3rd. 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $8.25.

Archer Aviation Stock Up 0.6 %

Archer Aviation stock opened at $3.30 on Tuesday. The stock has a market cap of $1.07 billion, a PE ratio of -2.02 and a beta of 2.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. Archer Aviation has a one year low of $2.79 and a one year high of $7.49. The stock has a fifty day moving average of $4.11 and a 200 day moving average of $5.03.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period last year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts predict that Archer Aviation will post -1.45 EPS for the current year.

Insider Activity at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 800,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $4.60 per share, with a total value of $3,680,000.00. Following the completion of the purchase, the insider now owns 35,451,720 shares in the company, valued at $163,077,912. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 3,150,000 shares of company stock valued at $15,724,500. Insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in Archer Aviation during the first quarter valued at approximately $49,000. Teacher Retirement System of Texas purchased a new stake in Archer Aviation during the third quarter valued at approximately $51,000. Janney Montgomery Scott LLC purchased a new stake in shares of Archer Aviation in the third quarter worth approximately $52,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Archer Aviation in the third quarter worth approximately $55,000. Finally, Vestor Capital LLC purchased a new stake in shares of Archer Aviation in the fourth quarter worth approximately $61,000. 59.34% of the stock is 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.