Archer Aviation (NYSE:ACHR) Given New $5.00 Price Target at JPMorgan Chase & Co.

Archer Aviation (NYSE:ACHR) had its price objective lowered by JPMorgan Chase & Co. from $7.00 to $5.00 in a research report report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald reissued an overweight rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Tuesday, February 27th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Archer Aviation currently has an average rating of Buy and a consensus price target of $9.00.

Archer Aviation Stock Performance

Shares of NYSE:ACHR opened at $3.96 on Friday. The company’s 50-day moving average price is $4.39 and its two-hundred day moving average price is $5.15. Archer Aviation has a one year low of $1.91 and a one year high of $7.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. The stock has a market capitalization of $1.23 billion, a PE ratio of -2.29 and a beta of 2.45.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.35). On average, equities analysts forecast that Archer Aviation will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 800,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average price of $4.60 per share, for a total transaction of $3,680,000.00. Following the purchase, the insider now owns 35,451,720 shares in the company, valued at $163,077,912. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 3,150,000 shares of company stock valued at $15,724,500 over the last 90 days. 27.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC bought a new position in Archer Aviation during the 3rd quarter worth $53,000. Exchange Traded Concepts LLC bought a new position in Archer Aviation during the third quarter worth about $37,000. Commonwealth Equity Services LLC acquired a new stake in Archer Aviation in the 3rd quarter worth about $148,000. Cambridge Investment Research Advisors Inc. bought a new stake in Archer Aviation in the 3rd quarter valued at about $55,000. Finally, Raymond James & Associates grew its position in shares of Archer Aviation by 43.7% during the 3rd quarter. Raymond James & Associates now owns 150,038 shares of the company’s stock worth $759,000 after purchasing an additional 45,637 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.