Archer Aviation (NYSE:ACHR – Get Free Report)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $10.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 236.13% from the stock’s current price.
ACHR has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.
Check Out Our Latest Research Report on ACHR
Archer Aviation Stock Down 1.8 %
Archer Aviation (NYSE:ACHR – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.07. Equities research analysts anticipate that Archer Aviation will post -1.33 EPS for the current year.
Insider Activity
In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.17% of the stock is currently owned by corporate insiders.
Institutional Trading of Archer Aviation
Large investors have recently added to or reduced their stakes in the stock. Algert Global LLC purchased a new position in shares of Archer Aviation in the second quarter valued at $76,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Archer Aviation in the second quarter worth about $62,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Archer Aviation by 42.6% in the second quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company’s stock worth $425,000 after buying an additional 36,130 shares in the last quarter. Xponance Inc. bought a new position in shares of Archer Aviation in the second quarter valued at approximately $51,000. Finally, DRW Securities LLC purchased a new position in Archer Aviation during the second quarter valued at approximately $68,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
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.
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