Cantor Fitzgerald Reiterates “Overweight” Rating for Archer Aviation (NYSE:ACHR)

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 212.50% from the stock’s current price.

A number of other analysts have also recently weighed in on ACHR. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays lowered their price objective on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research report on Friday, May 17th. 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 objective for the company. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Up 3.2 %

NYSE ACHR traded up $0.10 during midday trading on Monday, hitting $3.20. 2,028,660 shares of the company traded hands, compared to its average volume of 6,715,964. 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 company has a market cap of $1.14 billion, a PE ratio of -1.97 and a beta of 2.33. The company’s 50-day simple moving average is $4.05 and its 200-day simple moving average is $4.02. Archer Aviation has a 52 week low of $3.00 and a 52 week high of $7.10.

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. As a group, equities research analysts forecast that Archer Aviation will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Hollencrest Capital Management raised its stake 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 buying an additional 3,000 shares during the last quarter. CWM LLC raised its stake 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 buying an additional 3,559 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Archer Aviation during the 1st quarter valued at about $49,000. Csenge Advisory Group purchased a new position in shares of Archer Aviation during the 2nd quarter valued at about $39,000. Finally, StoneX Group Inc. purchased a new position in shares of Archer Aviation during the 4th quarter valued at about $70,000. Institutional investors and hedge funds 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.