799,910 Shares in Archer Aviation Inc. (NYSE:ACHR) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. raised its stake in shares of Archer Aviation by 106.4% during the fourth quarter. Ameriprise Financial Inc. now owns 45,902 shares of the company's stock worth $448,000 after buying an additional 23,661 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after purchasing an additional 3,064,280 shares during the period. Comerica Bank grew its holdings in Archer Aviation by 113.2% during the fourth quarter. Comerica Bank now owns 4,076 shares of the company's stock valued at $40,000 after purchasing an additional 2,164 shares during the period. Lido Advisors LLC acquired a new position in Archer Aviation during the fourth quarter valued at approximately $110,000. Finally, Northern Trust Corp grew its holdings in Archer Aviation by 19.3% during the fourth quarter. Northern Trust Corp now owns 2,346,059 shares of the company's stock valued at $22,874,000 after purchasing an additional 379,322 shares during the period. 59.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Monday, April 21st. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, HC Wainwright restated a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.61.

Insiders Place Their Bets

In other news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares of the company's stock, valued at $4,852,871.10. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 474,780 shares of company stock valued at $3,581,581. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Performance

Shares of ACHR opened at $9.08 on Tuesday. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The firm has a fifty day simple moving average of $7.76 and a 200 day simple moving average of $7.93. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -6.88 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. Research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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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