Archer Aviation (NYSE:ACHR) Earns “Overweight” Rating from Cantor Fitzgerald

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

Several other analysts have also weighed in on ACHR. HC Wainwright started 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. 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. Finally, Benchmark reiterated a buy rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $9.00.

Archer Aviation Stock Up 7.9 %

NYSE ACHR opened at $3.21 on Monday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -1.96 and a beta of 2.32. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $7.01. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $3.57 and a 200-day moving average of $3.83.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. On average, equities research analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. 27.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management raised 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 during the period. CWM LLC raised its holdings in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the last quarter. Csenge Advisory Group bought a new position in shares of Archer Aviation in the second quarter valued at $39,000. Tidal Investments LLC acquired a new position in shares of Archer Aviation during the first quarter valued at about $49,000. Finally, Choreo LLC bought a new stake in shares of Archer Aviation during the second quarter worth about $49,000. 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.