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

Archer Aviation (NYSE:ACHR)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a note issued to investors on Friday, Benzinga reports. They currently have a $12.00 target price on the stock. Benchmark’s price target suggests a potential upside of 218.30% from the company’s current price.

ACHR has been the subject of several other research reports. Barclays reduced their target price on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research note on Friday, May 17th. JPMorgan Chase & Co. raised their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Archer Aviation Stock Performance

Shares of ACHR traded down $0.22 during trading hours on Friday, hitting $3.77. The company’s stock had a trading volume of 15,909,746 shares, compared to its average volume of 6,346,086. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -2.31 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01. The business has a 50 day simple moving average of $3.95 and a two-hundred day simple moving average of $4.26. Archer Aviation has a 52-week low of $3.00 and a 52-week high of $7.49.

Archer Aviation (NYSE:ACHR) last posted its earnings results 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 in the previous year, the firm posted ($0.46) EPS. On average, equities analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost 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 in the company, valued at approximately $200,112,122.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ACHR. CWM LLC increased its stake in shares of 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 buying an additional 3,559 shares during the period. Csenge Advisory Group purchased a new position in shares of Archer Aviation in the second quarter worth $39,000. Tidal Investments LLC purchased a new position in Archer Aviation during the 1st quarter valued at $49,000. Choreo LLC purchased a new position in Archer Aviation during the 2nd quarter valued at $49,000. Finally, Vestor Capital LLC purchased a new position in Archer Aviation during the 4th quarter valued at $61,000. 59.34% of the stock is 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.