Archer Aviation Inc. Expected to Earn FY2023 Earnings of ($1.19) Per Share (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR – Get Rating) – Investment analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for shares of Archer Aviation in a research report issued on Monday, June 6th. Cantor Fitzgerald analyst A. Sheppard anticipates that the company will post earnings of ($1.19) per share for the year.

Archer Aviation (NYSE:ACHR – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10).

A number of other research firms also recently commented on ACHR. Benchmark reduced their price objective on shares of Archer Aviation to $12.00 and set a “na” rating for the company in a research note on Thursday, May 19th. JPMorgan Chase & Co. began coverage on shares of Archer Aviation in a research note on Thursday, April 28th. They set an “overweight” rating and a $7.00 price objective for the company. Zacks Investment Research downgraded shares of Archer Aviation from a “hold” rating to a “sell” rating in a research note on Thursday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Archer Aviation in a research note on Monday, April 11th. They issued a “buy” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Hold” and an average price target of $8.79.

Shares of NYSE ACHR opened at $4.63 on Thursday. The company has a fifty day moving average price of $4.06 and a 200 day moving average price of $4.39. Archer Aviation has a 1-year low of $2.61 and a 1-year high of $10.72.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. bought a new position in Archer Aviation in the fourth quarter valued at approximately $30,000. Raymond James Financial Services Advisors Inc. bought a new position in Archer Aviation in the first quarter valued at approximately $50,000. BBR Partners LLC bought a new position in Archer Aviation in the fourth quarter valued at approximately $61,000. Capital Wealth Alliance LLC acquired a new stake in Archer Aviation in the fourth quarter valued at approximately $62,000. Finally, CIBC Asset Management Inc acquired a new stake in Archer Aviation in the fourth quarter valued at approximately $71,000. 37.12% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile (Get Rating)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.

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