Archer Aviation Inc. $ACHR Shares Acquired by Alpine Global Management LLC

Key Points

• Alpine Global Management LLC more than doubled its stake in Archer Aviation in the fourth quarter, increasing holdings by 104.7% to 4.68 million shares valued at about $35.2 million.
• Archer Aviation shares rose 4.0% to $5.58, but the stock remains well below its 52-week high of $14.62 and carries a high beta of 3.14.
• The company reported a larger-than-expected quarterly loss of $0.28 per share and revenue of $1.6 million, while analysts currently rate the stock a “Moderate Buy” with an average target price of $11.83.

Alpine Global Management LLC lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 104.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,677,145 shares of the company's stock after buying an additional 2,392,026 shares during the period. Archer Aviation makes up approximately 6.0% of Alpine Global Management LLC's investment portfolio, making the stock its 3rd biggest holding. Alpine Global Management LLC owned 0.72% of Archer Aviation worth $35,172,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ACHR. Gould Capital LLC increased its holdings in shares of Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock valued at $27,000 after purchasing an additional 2,507 shares during the period. Strs Ohio acquired a new position in Archer Aviation in the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock worth $28,000 after buying an additional 3,335 shares during the period. Modus Advisors LLC purchased a new position in Archer Aviation during the 4th quarter worth approximately $29,000. Finally, Basepoint Wealth LLC acquired a new stake in Archer Aviation during the 4th quarter valued at approximately $32,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Up 4.0%

ACHR opened at $5.58 on Friday. Archer Aviation Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The company has a fifty day moving average of $5.98 and a two-hundred day moving average of $6.84. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of -5.07 and a beta of 3.14.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on ACHR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group decreased their target price 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. Finally, Needham & Company LLC lowered their price target on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.83.

Insider Activity at Archer Aviation

In related news, CFO Priya Gupta sold 9,860 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares of the company's stock, valued at approximately $1,124,847.50. The trade was a 4.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the completion of the sale, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. The trade was a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 over the last 90 days. 5.55% of the stock is owned by insiders.

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.

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