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

Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $13.00 price target on the stock. Cantor Fitzgerald's price objective would suggest a potential downside of 2.52% from the company's current price.

A number of other brokerages have also issued reports on ACHR. Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Tuesday. Finally, Canaccord Genuity Group raised their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Price Performance

Shares of NYSE ACHR traded up $1.15 during mid-day trading on Friday, reaching $13.34. The company had a trading volume of 39,661,062 shares, compared to its average volume of 22,406,569. The company has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $8.04. The stock has a market cap of $7.23 billion, a PE ratio of -10.06 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $14.35.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, equities analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $8.47, for a total value of $423,500.00. Following the completion of the sale, the insider now directly owns 212,673 shares of the company's stock, valued at approximately $1,801,340.31. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 474,780 shares of company stock valued at $3,581,581. Insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Archer Aviation during the fourth quarter worth about $27,000. Tidemark LLC increased its stake in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 2,000 shares during the period. Conquis Financial LLC acquired a new position in Archer Aviation in the 4th quarter valued at approximately $29,000. Finally, 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 acquiring an additional 1,095 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

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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