Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $9.33.
A number of brokerages recently issued reports on ACHR. JPMorgan Chase & Co. raised their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday. They issued a "buy" rating and a $11.00 target price for the company. Benchmark reiterated a "buy" rating and set a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th.
Check Out Our Latest Research Report on Archer Aviation
Institutional Investors Weigh In On Archer Aviation
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC boosted its holdings in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock worth $15,487,000 after purchasing an additional 268,896 shares during the last quarter. HBK Investments L P acquired a new position in Archer Aviation during the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. boosted its stake in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock worth $5,547,000 after buying an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock valued at $4,651,000 after buying an additional 254,460 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Archer Aviation in the 1st quarter worth $5,782,000. Institutional investors and hedge funds own 59.34% of the company's stock.
Archer Aviation Price Performance
ACHR traded up $0.71 on Tuesday, hitting $5.13. 34,772,577 shares of the company's stock traded hands, compared to its average volume of 8,688,072. The company's 50 day simple moving average is $3.34 and its 200-day simple moving average is $3.62. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a one year low of $2.82 and a one year high of $7.01. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -3.88 and a beta of 2.29.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation will post -1.2 EPS for the current year.
About Archer Aviation
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Get Free ReportArcher 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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