122,000 Shares in Archer Aviation Inc. $ACHR Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB opened a new position in Archer Aviation, buying 122,000 shares worth about $1.32 million in Q2, joining other institutions that helped push institutional ownership to roughly 59.34%.
• Company insiders have been net sellers recently, offloading 182,635 shares worth about $1.37 million in the last quarter, including notable sales by Eric Lentell and CFO Priya Gupta that materially reduced their holdings.
• Archer shares traded around $7.50 (1-year range $5.48–$14.62) with a market cap of about $4.88 billion, and analysts rate the stock an average "Moderate Buy" with a mean target near $12.71.

Handelsbanken Fonder AB acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 122,000 shares of the company's stock, valued at approximately $1,324,000.

Several other institutional investors have also recently added to or reduced their stakes in ACHR. Clear Creek Financial Management LLC acquired a new stake in Archer Aviation during the second quarter worth about $465,000. Virtu Financial LLC grew its holdings in shares of Archer Aviation by 704.2% during the first quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after purchasing an additional 314,844 shares during the last quarter. Swiss National Bank grew its holdings in shares of Archer Aviation by 42.4% during the first quarter. Swiss National Bank now owns 728,900 shares of the company's stock valued at $5,182,000 after purchasing an additional 217,200 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Archer Aviation during the 1st quarter worth approximately $4,977,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Archer Aviation by 57.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company's stock worth $1,242,000 after purchasing an additional 41,800 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Up 1.6%

Shares of NYSE ACHR opened at $7.50 on Friday. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a one year low of $5.48 and a one year high of $14.62. The business has a 50-day moving average price of $10.02 and a two-hundred day moving average price of $10.14. The firm has a market capitalization of $4.88 billion, a PE ratio of -5.95 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). As a group, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other news, insider Eric Lentell sold 41,490 shares of the company's stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the transaction, the insider directly owned 83,733 shares of the company's stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Priya Gupta sold 5,479 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer owned 161,523 shares of the company's stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 182,635 shares of company stock worth $1,367,936 in the last quarter. 7.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACHR. HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. cut their target price on Archer Aviation from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, November 7th. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $12.71.

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.

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