Ghisallo Capital Management LLC Grows Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Ghisallo Capital Management LLC lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 170.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,706,760 shares of the company's stock after purchasing an additional 1,706,760 shares during the quarter. Archer Aviation accounts for about 1.5% of Ghisallo Capital Management LLC's holdings, making the stock its 14th largest position. Ghisallo Capital Management LLC owned about 0.64% of Archer Aviation worth $26,391,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Conquis Financial LLC bought a new stake in Archer Aviation during the fourth quarter worth about $29,000. Oarsman Capital Inc. boosted its stake in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after buying an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Down 6.8 %

ACHR traded down $0.61 during trading on Wednesday, reaching $8.38. The stock had a trading volume of 13,617,827 shares, compared to its average volume of 20,962,968. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -6.35 and a beta of 3.16. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $7.68 and its two-hundred day moving average is $7.55.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. As a group, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Eric Lentell sold 50,004 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the sale, the general counsel now owns 45,416 shares of the company's stock, valued at $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 over the last 90 days. 9.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Monday, April 21st. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Archer Aviation 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.