Archer Aviation (NYSE:ACHR) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Archer Aviation (NYSE:ACHR) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $12.50 price target on the stock. HC Wainwright also issued estimates for Archer Aviation’s Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.58) EPS, FY2025 earnings at ($1.22) EPS, FY2026 earnings at ($0.94) EPS, FY2027 earnings at ($0.46) EPS and FY2028 earnings at ($0.18) EPS.

ACHR has been the subject of a number of other reports. Benchmark reaffirmed a buy rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Barclays lowered their target price 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, Cantor Fitzgerald restated an overweight rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $9.00.

Archer Aviation Trading Down 4.9 %

NYSE ACHR opened at $3.09 on Tuesday. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $999.79 million, a P/E ratio of -1.90 and a beta of 2.32. The business has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $4.04. Archer Aviation has a 12 month low of $3.00 and a 12 month high of $7.10.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.07. On average, analysts predict that Archer Aviation will post -1.2 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 27.17% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management lifted its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC grew its position in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Vestor Capital LLC bought a new position in Archer Aviation in the fourth quarter valued at $61,000. Tidal Investments LLC purchased a new stake in Archer Aviation during the first quarter valued at about $49,000. Finally, Csenge Advisory Group bought a new stake in Archer Aviation during the second quarter worth about $39,000. 59.34% of the stock is currently owned by hedge funds and other 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.