Benchmark restated their buy rating on shares of Archer Aviation (NYSE:ACHR – Free Report) in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a $12.00 target price on the stock.
Several other equities analysts have also recently commented on ACHR. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $7.00 to $5.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Cantor Fitzgerald reiterated an overweight rating and set a $10.00 price target on shares of Archer Aviation in a report on Tuesday, February 27th. Finally, Barclays reduced their price objective on 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Archer Aviation has a consensus rating of Moderate Buy and an average target price of $8.25.
View Our Latest Stock Analysis on ACHR
Archer Aviation Stock Down 3.9 %
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period in the previous year, the company posted ($0.46) EPS. On average, sell-side analysts forecast that Archer Aviation will post -1.45 earnings per share for the current fiscal year.
Insider Activity at Archer Aviation
In other news, major shareholder N.V. Stellantis purchased 800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $4.83 per share, for a total transaction of $3,864,000.00. Following the purchase, the insider now owns 36,251,720 shares of the company’s stock, valued at $175,095,807.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 3,150,000 shares of company stock worth $15,724,500. Insiders own 27.17% of the company’s stock.
Institutional Trading of Archer Aviation
Institutional investors have recently modified their holdings of the business. Vestor Capital LLC bought a new stake in shares of Archer Aviation during the fourth quarter valued at about $61,000. Teacher Retirement System of Texas bought a new position in shares of Archer Aviation in the third quarter worth $51,000. Janney Montgomery Scott LLC purchased a new stake in shares of Archer Aviation in the third quarter worth $52,000. Tidal Investments LLC purchased a new stake in shares of Archer Aviation in the first quarter worth $49,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Archer Aviation during the third quarter valued at $55,000. 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.
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