BNP Paribas Financial Markets Makes New $7.80 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

BNP Paribas Financial Markets bought a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 799,910 shares of the company's stock, valued at approximately $7,799,000. BNP Paribas Financial Markets owned about 0.19% of Archer Aviation as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Archer Aviation during the 4th quarter valued at $42,709,000. Alyeska Investment Group L.P. lifted its position in shares of Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after buying an additional 3,064,280 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after acquiring an additional 2,908,859 shares during the period. Finally, Ghisallo Capital Management LLC increased its holdings in Archer Aviation by 170.7% in the 4th quarter. Ghisallo Capital Management LLC now owns 2,706,760 shares of the company's stock worth $26,391,000 after acquiring an additional 1,706,760 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Price Performance

Archer Aviation stock traded up $0.78 during midday trading on Friday, reaching $12.97. 43,464,250 shares of the stock were exchanged, compared to its average volume of 28,911,219. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market cap of $7.04 billion, a PE ratio of -9.83 and a beta of 3.13. The company's fifty day moving average is $8.03 and its 200-day moving average is $8.04.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 50,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $8.47, for a total value of $423,500.00. Following the transaction, the insider now owns 212,673 shares of the company's stock, valued at $1,801,340.31. This represents a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mesler sold 34,498 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares in the company, valued at approximately $4,641,873.28. This trade represents a 4.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock worth $3,581,581 over the last ninety days. 7.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on ACHR shares. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Friday. Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday. Finally, Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

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.