Archer Aviation's (ACHR) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "overweight" rating reissued by investment analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $10.00 target price on the stock. Cantor Fitzgerald's price objective points to a potential upside of 214.96% from the company's current price.

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

Archer Aviation Trading Up 6.5 %

Archer Aviation stock traded up $0.19 during mid-day trading on Monday, reaching $3.18. 12,100,687 shares of the company traded hands, compared to its average volume of 7,303,367. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The firm's 50 day moving average price is $3.48 and its 200 day moving average price is $3.79. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.95 and a beta of 2.31. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $7.01.

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. On average, analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 27.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation during the 3rd quarter valued at about $31,000. Hollencrest Capital Management increased its position in shares of 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 purchasing an additional 3,000 shares during the last quarter. CWM LLC increased its position in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company's stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Csenge Advisory Group purchased a new stake in shares of Archer Aviation during the 2nd quarter valued at about $39,000. Finally, Tidal Investments LLC purchased a new stake in shares of Archer Aviation during the 1st quarter valued at about $49,000. Institutional investors 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.