Archer Aviation (NYSE:ACHR) Stock Gets Price Target Reduction from Cantor Fitzgerald

Archer Aviation (NYSE:ACHR) had its price objective decreased by Cantor Fitzgerald from $11.00 to $10.00 in a report issued on Tuesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

ACHR has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 target price on Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Thursday, October 15th. Finally, Barclays upgraded shares of Archer Aviation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $4.50 to $8.00 in a report on Friday, October 9th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.58.

Archer Aviation Stock Performance

NYSE ACHR opened at $4.33 on Tuesday. The firm has a 50-day moving average price of $4.79 and a two-hundred day moving average price of $5.65. Archer Aviation has a 12-month low of $3.62 and a 12-month high of $9.29. The company has a market capitalization of $3.33 billion, a P/E ratio of -3.52 and a beta of 3.59. The company has a quick ratio of 10.21, a current ratio of 8.02 and a debt-to-equity ratio of 0.10.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The company had revenue of $5.10 million for the quarter, compared to the consensus estimate of $3.57 million. Archer Aviation had a negative return on equity of 46.62% and a negative net margin of 7,869.17%. During the same quarter last year, the business earned ($0.20) EPS. Analysts anticipate that Archer Aviation will post -1.37 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the sale, the chief financial officer owned 202,784 shares of the company’s stock, valued at $1,299,845.44. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the insider directly owned 85,011 shares of the company’s stock, valued at approximately $536,419.41. This trade represents a 54.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,657 shares of company stock worth $1,122,371 over the last three months. 5.55% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently bought and sold shares of ACHR. GAMMA Investing LLC boosted its stake in Archer Aviation by 189.3% in the third quarter. GAMMA Investing LLC now owns 6,272 shares of the company’s stock valued at $31,000 after acquiring an additional 4,104 shares during the last quarter. Vima LLC grew its holdings in Archer Aviation by 203.8% during the 3rd quarter. Vima LLC now owns 6,365 shares of the company’s stock valued at $32,000 after buying an additional 4,270 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Archer Aviation by 37.1% in the third quarter. Global Retirement Partners LLC now owns 8,472 shares of the company’s stock worth $42,000 after purchasing an additional 2,292 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Archer Aviation by 59.4% during the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after buying an additional 3,275 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Archer Aviation by 157.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock worth $47,000 after purchasing an additional 5,832 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Top Archer Aviation Stories

Here are a few of the latest stories about ACHR:

• Neutral Sentiment: Canaccord Genuity reiterated its Buy rating and set a $9.50 price target, down from $12. The continued bullish rating is supportive, though the cut reflects a more cautious valuation outlook. Canaccord reaffirms Buy rating
• Negative Sentiment: Archer reported a third-quarter loss of $0.35 per share, slightly wider than the $0.34 loss analysts expected. Revenue of $5.1 million exceeded estimates, but the substantial loss and ongoing cash-burn concerns appear to be overshadowing that beat. Stock falls on disappointing earnings
• Negative Sentiment: Other analysts also reduced their targets: Cantor Fitzgerald cut its target to $10, while Needham lowered its forecast to $7. These revisions may add pressure despite the targets remaining above the recent share price. Analysts cut Archer price targets

Archer Aviation Company Profile

Archer Aviation is an aerospace company based in San Jose, California, that develops electric vertical takeoff and landing (eVTOL) aircraft and related services. Its aircraft are designed for short passenger trips, including potential air taxi routes between urban areas and nearby airports. The company’s primary aircraft is Midnight, a piloted eVTOL designed to carry four passengers and a pilot. Archer is working to bring the aircraft to commercial service, subject to regulatory approvals, and is pursuing operations in the United States and international markets.