Brevan Howard Capital Management LP Increases Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Brevan Howard Capital Management LP lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 297.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,537 shares of the company's stock after purchasing an additional 102,934 shares during the quarter. Brevan Howard Capital Management LP's holdings in Archer Aviation were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Conquis Financial LLC bought a new position in shares of Archer Aviation in the fourth quarter worth approximately $29,000. Harbour Investments Inc. lifted its position in Archer Aviation by 54.7% in the 4th 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 in the last quarter. Oarsman Capital Inc. boosted its stake in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of Archer Aviation by 58.3% in the 4th 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 in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake 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 worth $33,000 after purchasing an additional 2,975 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Trading Up 0.2 %

Shares of ACHR opened at $8.55 on Thursday. The company's fifty day simple moving average is $7.71 and its 200-day simple moving average is $7.75. The company has a market cap of $4.64 billion, a P/E ratio of -6.47 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 Inc. has a twelve month low of $2.82 and a twelve month high of $12.48.

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 (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction that occurred on 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 sale, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mesler sold 34,498 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly 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 in the last quarter. 9.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

ACHR has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Monday, April 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. 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. Finally, HC Wainwright reissued a "buy" rating and set a $12.50 price target 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.61.

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.

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