Archer Aviation Inc. (NYSE:ACHR) Shares Bought by Centiva Capital LP

Centiva Capital LP boosted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 1,064.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,941 shares of the company's stock after purchasing an additional 276,022 shares during the period. Centiva Capital LP owned about 0.07% of Archer Aviation worth $2,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Conquis Financial LLC bought a new position in shares of Archer Aviation in the fourth quarter worth about $29,000. Harbour Investments Inc. boosted 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 buying an additional 1,095 shares during the last quarter. Oarsman Capital Inc. increased its stake 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 buying an additional 2,547 shares during the period. Anchor Investment Management LLC raised its position 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 during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in Archer Aviation by 708.3% during the 4th 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 owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares of the company's stock, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Eric Lentell sold 50,004 shares of the firm's 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 $352,028.16. Following the sale, the general counsel now directly owns 45,416 shares of the company's stock, valued at $319,728.64. This represents a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 474,780 shares of company stock worth $3,581,581. 9.75% of the stock is currently owned by company insiders.

Archer Aviation Stock Up 2.3 %

ACHR traded up $0.20 during trading on Thursday, hitting $8.76. 17,072,119 shares of the company's stock traded hands, compared to its average volume of 21,516,076. 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 12-month low of $2.82 and a 12-month high of $12.48. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -6.63 and a beta of 3.13. The company's 50 day simple moving average is $7.73 and its two-hundred day simple moving average is $7.79.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share 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.