3,000,000 Shares in Archer Aviation Inc. $ACHR Acquired by Seven Grand Managers LLC

Key Points

• Seven Grand Managers LLC opened a new position in Archer Aviation during the fourth quarter, buying 3 million shares worth about $22.56 million. The stake represents roughly 0.46% of the company and is the fund’s 17th largest holding.
• Insider selling has been active, with executives including CAO Harsh Rungta and insider Eric Lentell selling shares in recent transactions. Over the last 90 days, insiders sold 502,739 shares worth about $3.12 million.
• Analysts remain mixed but generally constructive on ACHR, with a consensus “Moderate Buy” rating and an average price target of $11.83. Archer also reported a wider-than-expected quarterly loss, posting EPS of -$0.28 versus the expected -$0.25.

Seven Grand Managers LLC bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,000,000 shares of the company's stock, valued at approximately $22,560,000. Archer Aviation makes up about 1.7% of Seven Grand Managers LLC's holdings, making the stock its 17th largest holding. Seven Grand Managers LLC owned about 0.46% of Archer Aviation as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $29,000. Bank of Jackson Hole Trust lifted its position in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after acquiring an additional 986 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock valued at $36,000 after acquiring an additional 1,702 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Archer Aviation by 138.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company's stock valued at $34,000 after acquiring an additional 2,040 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $27,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insider Buying and Selling at Archer Aviation

In other news, CAO Harsh Rungta sold 22,826 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the transaction, the chief accounting officer owned 65,458 shares in the company, valued at $422,858.68. This represents a 25.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Lentell sold 48,169 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55. Following the transaction, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 502,739 shares of company stock worth $3,124,236. Company insiders own 7.65% of the company's stock.

Wall Street Analyst Weigh In

ACHR has been the subject of several research analyst reports. Canaccord Genuity Group reduced their price target on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Needham & Company LLC cut their target price on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Archer Aviation Stock Up 0.4%

ACHR stock opened at $6.53 on Thursday. Archer Aviation Inc. has a 12-month low of $4.80 and a 12-month high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -5.94 and a beta of 3.13. The company has a 50 day moving average of $5.87 and a two-hundred day moving average of $7.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same period last year, the firm posted ($0.17) EPS. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

About Archer Aviation

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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