999,480 Shares in Archer Aviation Inc. $ACHR Bought by Quadrature Capital Ltd

Key Points

• Quadrature Capital purchased a new stake of 999,480 shares (~$10.84M) in Archer Aviation (ACHR) in Q2, representing about 0.18% of the company.
• Insider selling accelerated recently: Tosha Perkins and Eric Lentell sold 45,018 and 41,490 shares respectively at $7.49 on Nov. 17, and insiders sold 182,635 shares (~$1.37M) in the last quarter, leaving insiders with 7.65% ownership.
• Analyst sentiment is mixed-to-positive (seven Buys, one Hold, one Sell) with an average price target of $12.71, while ACHR trades around $7.50 and posts negative EPS.

Quadrature Capital Ltd purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 999,480 shares of the company's stock, valued at approximately $10,839,000. Quadrature Capital Ltd owned 0.18% of Archer Aviation as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Archer Aviation in the first quarter worth about $27,000. Tidemark LLC boosted its holdings in Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 2,000 shares during the period. AlphaQuest LLC grew its position in Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Archer Aviation in the 1st quarter worth approximately $31,000. Finally, GAMMA Investing LLC lifted its position in Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock valued at $32,000 after purchasing an additional 2,024 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $337,184.82. Following the sale, the insider directly owned 334,632 shares in the company, valued at $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Lentell sold 41,490 shares of the company's stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the sale, the insider directly owned 83,733 shares in the company, valued at approximately $627,160.17. The trade was a 33.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is owned by company insiders.

Archer Aviation Trading Up 1.6%

Shares of ACHR opened at $7.50 on Friday. The firm's 50-day moving average price is $10.02 and its 200-day moving average price is $10.14. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -5.95 and a beta of 3.07. 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 1-year low of $5.48 and a 1-year high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.

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