Algert Global LLC bought a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 214,810 shares of the company's stock, valued at approximately $1,527,000.
Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Archer Aviation in the 4th quarter worth about $27,000. Allworth Financial LP boosted its stake in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares during the period. Tidemark LLC boosted its stake in Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after purchasing an additional 2,000 shares during the period. Comerica Bank boosted its stake in Archer Aviation by 113.2% in the 4th quarter. Comerica Bank now owns 4,076 shares of the company's stock worth $40,000 after purchasing an additional 2,164 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Archer Aviation in the 1st quarter worth about $31,000. Institutional investors own 59.34% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on ACHR shares. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus price target of $13.43.
Read Our Latest Analysis on ACHR
Insider Transactions at Archer Aviation
In related news, insider Eric Lentell sold 48,936 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares in the company, valued at $467,101.94. The trade was a 50.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the sale, the insider owned 295,337 shares of the company's stock, valued at $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 283,964 shares of company stock worth $2,865,206. 7.65% of the stock is owned by corporate insiders.
Archer Aviation Stock Performance
Shares of ACHR opened at $9.6570 on Friday. The company has a market cap of $6.23 billion, a PE ratio of -7.15 and a beta of 3.08. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $10.42 and a 200-day moving average price of $9.39. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.
About Archer Aviation
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ACHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Aviation Inc. (NYSE:ACHR - Free Report).
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