Archer Aviation’s (ACHR) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Archer Aviation (NYSE:ACHR) in a report published on Monday,Benzinga reports. They currently have a $13.00 price target on the stock.

A number of other analysts also recently weighed in on ACHR. HC Wainwright restated a “buy” rating and issued a $18.00 target price (up from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.50 to $13.00 and set a “buy” rating on the stock in a report on Monday, June 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $9.94 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The company has a market cap of $5.46 billion, a P/E ratio of -7.59 and a beta of 3.13. The firm’s fifty day moving average is $9.86 and its two-hundred day moving average is $9.09. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. As a group, analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CFO Priya Gupta sold 13,210 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $171,597.90. Following the completion of the sale, the chief financial officer now directly owns 134,104 shares of the company’s stock, valued at $1,742,010.96. The trade was a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 80,919 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the completion of the sale, the chief technology officer now directly owns 1,253,294 shares of the company’s stock, valued at approximately $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,859 shares of company stock valued at $4,627,418. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new stake in Archer Aviation in the 4th quarter valued at about $27,000. Conquis Financial LLC purchased a new stake in shares of Archer Aviation in the 4th quarter worth approximately $29,000. Oarsman Capital Inc. lifted its position in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. lifted its position in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. 59.34% of the stock is owned by hedge funds and other 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.