Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was up 10.3% during mid-day trading on Thursday . The company traded as high as $3.62 and last traded at $3.54. Approximately 12,943,614 shares were traded during mid-day trading, an increase of 66% from the average daily volume of 7,781,078 shares. The stock had previously closed at $3.21.
Analysts Set New Price Targets
Several brokerages have recently commented on ACHR. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a "buy" rating and a $12.50 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.
Check Out Our Latest Research Report on ACHR
Archer Aviation Stock Up 11.5 %
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 market capitalization of $1.27 billion, a P/E ratio of -2.90 and a beta of 2.29. The business's fifty day moving average price is $3.16 and its 200 day moving average price is $3.61.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued 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. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Archer Aviation
A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in shares of Archer Aviation by 23.9% in the second 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 during the last quarter. Alpine Global Management LLC bought a new position in Archer Aviation in the 1st quarter valued at $5,782,000. Intellectus Partners LLC increased its stake in shares of Archer Aviation by 1.3% in the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock valued at $2,790,000 after buying an additional 11,800 shares during the period. Raymond James & Associates raised its position in shares of Archer Aviation by 44.4% during the second quarter. Raymond James & Associates now owns 625,164 shares of the company's stock worth $2,201,000 after acquiring an additional 192,120 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Archer Aviation by 2.3% during the first quarter. Swiss National Bank now owns 376,600 shares of the company's stock valued at $1,740,000 after acquiring an additional 8,500 shares during the period. 59.34% of the stock is currently owned by institutional investors.
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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