340,000 Shares in Archer Aviation Inc. $ACHR Acquired by Yorkville Advisors Global LP

Key Points

• Yorkville Advisors Global LP opened a new position in Archer Aviation, buying 340,000 shares worth about $2.56 million in the fourth quarter. The stake represents roughly 0.05% of Archer’s stock and about 1.6% of Yorkville’s holdings.
• Institutional ownership remains high, with hedge funds and other institutions owning about 59.34% of Archer Aviation shares. Other notable buyers included Vanguard and Sumitomo Mitsui Trust Group, which increased their positions.
• Analysts remain cautiously bullish overall, giving Archer a consensus rating of “Moderate Buy” with an average price target of $11.83. However, the company recently posted a wider-than-expected quarterly loss and several insiders have also sold shares.

Yorkville Advisors Global LP purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 340,000 shares of the company's stock, valued at approximately $2,557,000. Archer Aviation accounts for approximately 1.6% of Yorkville Advisors Global LP's holdings, making the stock its 12th biggest position. Yorkville Advisors Global LP owned about 0.05% of Archer Aviation at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Seven Grand Managers LLC purchased a new stake in Archer Aviation in the 4th quarter worth approximately $22,560,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Archer Aviation by 21.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company's stock valued at $59,515,000 after purchasing an additional 1,407,775 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock valued at $411,165,000 after purchasing an additional 2,312,899 shares in the last quarter. Generali Powszechne Towarzystwo Emerytalne purchased a new position in Archer Aviation in the 4th quarter valued at $7,520,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Archer Aviation in the 3rd quarter valued at $816,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Needham & Company LLC decreased their price objective on Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Canaccord Genuity Group decreased their price objective on Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Insider Buying and Selling at Archer Aviation

In other news, CFO Priya Gupta sold 9,860 shares of Archer Aviation stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $58,667.00. Following the transaction, the chief financial officer owned 189,050 shares in the company, valued at $1,124,847.50. The trade was a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 10,949 shares of Archer Aviation stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $68,650.23. Following the transaction, the insider owned 384,768 shares in the company, valued at approximately $2,412,495.36. This represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 282,840 shares of company stock worth $1,703,688. Corporate insiders own 7.65% of the company's stock.

Archer Aviation Stock Down 3.2%

NYSE ACHR opened at $6.53 on Thursday. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week 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 business's fifty day simple moving average is $5.94 and its 200-day simple moving average is $6.99. The firm has a market cap of $4.96 billion, a PE ratio of -5.93 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Archer Aviation Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.