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

HC Wainwright initiated coverage on shares of Archer Aviation (NYSE:ACHR) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $12.50 target price 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.

Several other equities analysts have also recently issued reports on ACHR. Barclays decreased their price target on shares of Archer Aviation from $6.50 to $4.50 and set an equal weight rating for the company in a research report on Friday, May 17th. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an overweight rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, August 19th. Finally, Benchmark reiterated a buy rating and issued a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $9.00.

Archer Aviation Trading Down 4.9 %

NYSE ACHR opened at $3.09 on Tuesday. The company has a market cap of $999.79 million, a price-to-earnings ratio of -1.90 and a beta of 2.32. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.10. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $4.05 and its 200 day moving average is $4.04.

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. As a group, sell-side analysts expect that Archer Aviation will post -1.2 EPS for the current fiscal year.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management increased its stake in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC raised its stake in Archer Aviation by 62.0% during the 2nd 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 bought a new position in Archer Aviation in the second quarter worth approximately $39,000. Tidal Investments LLC bought a new position in Archer Aviation in the first quarter worth approximately $49,000. Finally, Choreo LLC acquired a new stake in Archer Aviation in the second quarter valued at approximately $49,000. Institutional investors and hedge funds 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.