Archer Aviation’s (ACHR) “Overweight” Rating Reiterated at Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald reiterated their overweight rating on shares of Archer Aviation (NYSE:ACHR – Free Report) in a research note published on Monday, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other analysts have also recently issued reports about the company. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a buy rating and a $12.50 price target on the stock. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Finally, Benchmark reiterated a buy rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of Moderate Buy and a consensus price target of $9.00.

Read Our Latest Analysis on ACHR

Archer Aviation Stock Performance

ACHR opened at $2.98 on Monday. The stock has a market cap of $962.59 million, a PE ratio of -1.83 and a beta of 2.31. 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 1 year low of $2.82 and a 1 year high of $7.01. The stock’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.76.

Archer Aviation (NYSE:ACHR – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. Sell-side analysts forecast that Archer Aviation will post -1.33 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently made changes to their positions in the company. Axxcess Wealth Management LLC lifted its stake in Archer Aviation by 48.0% in the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after buying an additional 9,713 shares during the period. Kingsview Wealth Management LLC lifted its stake in Archer Aviation by 8.3% in the first quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock valued at $524,000 after buying an additional 8,717 shares during the period. CreativeOne Wealth LLC acquired a new position in Archer Aviation in the first quarter valued at about $117,000. Quadrature Capital Ltd bought a new stake in shares of Archer Aviation in the fourth quarter worth about $578,000. Finally, Cetera Advisors LLC bought a new stake in shares of Archer Aviation in the first quarter worth about $80,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

(Get Free Report)

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.

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