Aquatic Capital Management LLC Buys New Stake in Archer Aviation Inc. $ACHR

Key Points

• Aquatic Capital Management LLC purchased a new stake of 1,554,601 Archer Aviation shares valued at about $14.89 million, representing roughly 0.24% of the company.
• Archer reported an EPS miss of ($0.26) versus estimates of ($0.17) and revenue of $0.30M versus $1.40M expected for the quarter.
• Insiders sold 344,899 shares valued at $2.42M over the past three months; company insiders now own 7.65% of Archer's stock.

Aquatic Capital Management LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,554,601 shares of the company's stock, valued at approximately $14,893,000. Aquatic Capital Management LLC owned about 0.24% of Archer Aviation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACHR. Vestor Capital LLC boosted its stake in shares of Archer Aviation by 1,014.7% in the second quarter. Vestor Capital LLC now owns 278,666 shares of the company's stock worth $3,024,000 after buying an additional 253,666 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in Archer Aviation during the second quarter worth about $1,324,000. Voya Investment Management LLC raised its position in Archer Aviation by 180.0% during the third quarter. Voya Investment Management LLC now owns 418,366 shares of the company's stock valued at $4,008,000 after acquiring an additional 268,955 shares in the last quarter. Cetera Investment Advisers raised its position in Archer Aviation by 16.6% during the second quarter. Cetera Investment Advisers now owns 374,059 shares of the company's stock valued at $4,059,000 after acquiring an additional 53,135 shares in the last quarter. Finally, Marex Group plc acquired a new position in Archer Aviation in the second quarter valued at approximately $24,699,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $6.03 on Friday. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62. The business's 50 day moving average is $7.50 and its two-hundred day moving average is $8.64. The company has a market capitalization of $3.92 billion, a P/E ratio of -6.09 and a beta of 3.10.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. Archer Aviation's revenue was up 29900.0% compared to the same quarter last year. Analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation 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 directly owned 65,458 shares of the company's stock, valued at $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 54,786 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the sale, the insider directly owned 377,022 shares of the company's stock, valued at $2,435,562.12. This represents a 12.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 344,899 shares of company stock valued at $2,420,548 in the last three months. Company insiders own 7.65% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Needham & Company LLC decreased 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 note on Tuesday, March 3rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group began coverage on shares of Archer Aviation in a report on Monday, December 1st. They issued a "neutral" rating and a $11.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.00.

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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