Shares of Archer Aviation Inc. (NYSE:ACHR – Get Free Report) saw an uptick in trading volume on Wednesday . 7,996,493 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 8,337,680 shares.The stock last traded at $4.53 and had previously closed at $4.66.
Analyst Ratings Changes
A number of brokerages recently issued reports on ACHR. HC Wainwright assumed coverage on Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.
View Our Latest Stock Report on Archer Aviation
Archer Aviation Price Performance
Archer Aviation (NYSE:ACHR – Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.
Institutional Investors Weigh In On Archer Aviation
Several institutional investors have recently made changes to their positions in the company. Miller Wealth Advisors LLC bought a new stake in Archer Aviation in the third quarter valued at $26,000. Code Waechter LLC acquired a new position in shares of Archer Aviation during the third quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation during the 3rd quarter valued at about $31,000. Hollencrest Capital Management boosted its stake in shares of Archer Aviation by 50.0% in the 2nd 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 during the last quarter. Finally, CWM LLC grew its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.
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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