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

Archer Aviation (NYSE:ACHRGet Free Report)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 100.40% from the company’s previous close.

Archer Aviation Stock Down 3.5 %

ACHR opened at $4.99 on Monday. The stock’s 50 day moving average price is $5.88 and its 200 day moving average price is $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.07 and a quick ratio of 4.07. The stock has a market cap of $1.50 billion, a P/E ratio of -2.82 and a beta of 2.53. Archer Aviation has a 12 month low of $1.77 and a 12 month high of $7.49.

Archer Aviation (NYSE:ACHRGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.21. As a group, research analysts predict that Archer Aviation will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, insider Andy Missan sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $6.39, for a total value of $79,875.00. Following the completion of the sale, the insider now directly owns 281,562 shares of the company’s stock, valued at approximately $1,799,181.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Andy Missan sold 12,500 shares of Archer Aviation stock in a transaction on Friday, November 17th. The stock was sold at an average price of $6.39, for a total transaction of $79,875.00. Following the transaction, the insider now directly owns 281,562 shares in the company, valued at approximately $1,799,181.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Marc E. Lore sold 160,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $5.90, for a total value of $944,000.00. Following the completion of the sale, the insider now directly owns 27,926,358 shares in the company, valued at approximately $164,765,512.20. The disclosure for this sale can be found here. 27.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Grove Bank & Trust bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc bought a new position in shares of Archer Aviation in the third quarter valued at $28,000. Exchange Traded Concepts LLC bought a new position in shares of Archer Aviation in the third quarter valued at $37,000. Teacher Retirement System of Texas acquired a new stake in shares of Archer Aviation during the 3rd quarter valued at $51,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth $52,000. 45.07% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

(Get Free Report)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in San Jose, California.

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Analyst Recommendations for Archer Aviation (NYSE:ACHR)

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