Collar Capital Management LLC Purchases New Position in Archer Aviation Inc. (NYSE:ACHR)

Collar Capital Management LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 275,150 shares of the company's stock, valued at approximately $2,683,000. Archer Aviation makes up about 2.2% of Collar Capital Management LLC's investment portfolio, making the stock its 12th biggest position. Collar Capital Management LLC owned 0.06% of Archer Aviation at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACHR. Barclays PLC grew its holdings in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Tidal Investments LLC boosted its position in Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after buying an additional 3,339 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in shares of Archer Aviation during the fourth quarter valued at about $157,000. Avondale Wealth Management purchased a new stake in shares of Archer Aviation during the fourth quarter worth about $127,000. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Archer Aviation by 83.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 11,000 shares of the company's stock worth $107,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % 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, CFO Mark Mesler sold 62,258 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 value of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 474,780 shares of company stock valued at $3,581,581 in the last quarter. Company insiders own 9.75% of the company's stock.

Analyst Ratings Changes

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

Archer Aviation Stock Down 1.9 %

NYSE:ACHR opened at $8.53 on Wednesday. The firm has a market capitalization of $4.62 billion, a PE ratio of -6.46 and a beta of 3.13. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. 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 has a 50 day moving average of $7.72 and a 200-day moving average of $7.74.

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

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