Bosun Asset Management LLC Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Bosun Asset Management LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 96,215 shares of the company's stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Conquis Financial LLC acquired a new position in Archer Aviation during the 4th quarter worth about $29,000. Oarsman Capital Inc. increased its holdings in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after buying an additional 1,095 shares during the period. 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 purchasing an additional 1,224 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after acquiring an additional 2,975 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 50,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.47, for a total transaction of $423,500.00. Following the sale, the insider now directly owns 212,673 shares of the company's stock, valued at approximately $1,801,340.31. The trade was a 19.04 % 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 owned by company insiders.

Analyst Ratings Changes

ACHR has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Monday, April 21st. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.

Archer Aviation Price Performance

Shares of Archer Aviation stock traded up $0.02 during trading on Wednesday, reaching $8.55. The company's stock had a trading volume of 12,591,894 shares, compared to its average volume of 21,461,768. 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 Inc. has a one year low of $2.82 and a one year high of $12.48. The stock has a market capitalization of $4.64 billion, a P/E ratio of -6.47 and a beta of 3.13. The stock has a 50-day moving average price of $7.71 and a two-hundred day moving average price of $7.75.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Archer Aviation 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.