Archer Aviation (NYSE:ACHR) Earns “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Archer Aviation (NYSE:ACHRFree Report) in a report issued on Tuesday morning, Benzinga reports. Benchmark currently has a $12.00 price target on the stock.

Other analysts have also issued reports about the stock. Cantor Fitzgerald restated an overweight rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Tuesday, February 27th. Barclays lowered their price target on 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. reduced their price objective on Archer Aviation from $7.00 to $5.00 and set an overweight rating for the company in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $8.25.

View Our Latest Analysis on ACHR

Archer Aviation Price Performance

NYSE ACHR opened at $3.29 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of -2.02 and a beta of 2.45. Archer Aviation has a 1 year low of $2.79 and a 1 year high of $7.49. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $5.05.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings data 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 business earned ($0.46) earnings per share. On average, sell-side analysts predict that Archer Aviation will post -1.45 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder N.V. Stellantis bought 800,000 shares of Archer Aviation stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $5.36 per share, for a total transaction of $4,288,000.00. Following the purchase, the insider now owns 37,851,720 shares of the company’s stock, valued at $202,885,219.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 3,150,000 shares of company stock worth $15,724,500 in the last 90 days. 27.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Archer Aviation by 20.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after acquiring an additional 1,394,872 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Archer Aviation by 33.4% in the fourth quarter. Spire Wealth Management now owns 44,943 shares of the company’s stock valued at $276,000 after purchasing an additional 11,248 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Archer Aviation by 11.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 111,163 shares of the company’s stock worth $693,000 after purchasing an additional 11,163 shares during the last quarter. Jump Financial LLC acquired a new position in Archer Aviation during the 3rd quarter worth $1,170,000. Finally, ARK Investment Management LLC boosted its position in Archer Aviation by 4.7% in the 4th quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after buying an additional 1,116,908 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

(Get Free Report)

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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