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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

A number of other research firms have also recently weighed in on ACHR. Benchmark restated a buy rating and set a $12.00 target price on shares of Archer Aviation in a research note on Tuesday, May 21st. Barclays lowered their target price on shares of Archer Aviation from $6.50 to $4.50 and set an equal weight rating on the stock in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Archer Aviation from $7.00 to $5.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Archer Aviation has a consensus rating of Moderate Buy and a consensus price target of $8.30.

Archer Aviation Trading Up 0.9 %

Shares of Archer Aviation stock opened at $4.42 on Monday. The company’s fifty day simple moving average is $3.79 and its 200-day simple moving average is $4.34. The stock has a market capitalization of $1.43 billion, a PE ratio of -2.74 and a beta of 2.35. Archer Aviation has a 1-year low of $3.00 and a 1-year high of $7.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period last year, the firm posted ($0.46) EPS. As a group, equities analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current year.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Archer Aviation by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after acquiring an additional 5,611 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Archer Aviation by 50.0% in the 4th quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after acquiring an additional 8,246 shares during the last quarter. Interchange Capital Partners LLC increased its holdings in Archer Aviation by 48.7% in the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after acquiring an additional 8,361 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Archer Aviation by 2.3% in the 1st 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 last quarter. 59.34% of the stock is currently owned by institutional investors.

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.