Two Sigma Advisers LP Invests $2.88 Million in Archer Aviation Inc. (NYSE:ACHR)

Two Sigma Advisers LP purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 295,100 shares of the company's stock, valued at approximately $2,877,000. Two Sigma Advisers LP owned approximately 0.07% of Archer Aviation as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the 4th quarter valued at $29,000. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $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 fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. Anchor Investment Management LLC boosted its stake in 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 in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Archer Aviation by 708.3% in 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 in the last quarter. Institutional investors own 59.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACHR. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Friday, May 16th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Canaccord Genuity Group upped 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 issued a $12.50 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Finally, Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Archer Aviation Stock Performance

ACHR traded down $0.36 during midday trading on Thursday, hitting $10.59. 24,120,894 shares of the company traded hands, compared to its average volume of 23,442,026. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.81 billion, a PE ratio of -8.02 and a beta of 3.13. The company's 50-day moving average is $8.61 and its 200 day moving average is $8.53. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.04. On average, research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other news, CTO Thomas Paul Muniz sold 80,919 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the transaction, the chief technology officer now owns 1,253,294 shares in the company, valued at $16,280,289.06. This represents a 6.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Priya Gupta sold 13,210 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the completion of the transaction, the chief financial officer now owns 134,104 shares in the company, valued at $1,742,010.96. This trade represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 705,844 shares of company stock valued at $6,583,103 in the last ninety days. 7.65% of the stock is currently owned by company insiders.

About Archer Aviation

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.