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

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 230.58% from the company’s previous close.

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

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $3.03 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 $2.82 and a 12 month high of $7.01. The stock has a 50 day moving average of $3.43 and a 200 day moving average of $3.76. The firm has a market cap of $978.76 million, a PE ratio of -1.86 and a beta of 2.31.

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

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of Archer Aviation stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 27.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in 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 acquiring an additional 3,000 shares in the last quarter. CWM LLC raised its holdings in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation in the third quarter worth about $31,000. Tidal Investments LLC bought a new stake in shares of Archer Aviation in the 1st quarter valued at about $49,000. Finally, Csenge Advisory Group purchased a new position in shares of Archer Aviation in the 2nd quarter worth approximately $39,000. 59.34% of the stock is currently owned by institutional investors.

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.