Archer Aviation Inc. $ACHR Shares Bought by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its stake in Archer Aviation Inc. by 20.1%, holding a total of 208,302 shares valued at approximately $1.48 million after purchasing additional shares.
• Several hedge funds have also boosted their positions in Archer Aviation, with Virtu Financial LLC increasing its stake by a significant 704.2% during the first quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Archer Aviation, with an average target price of $13.43, reflecting positive sentiment towards the company's future outlook.

Baird Financial Group Inc. raised its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,302 shares of the company's stock after purchasing an additional 34,891 shares during the period. Baird Financial Group Inc.'s holdings in Archer Aviation were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Archer Aviation by 26.2% in the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after purchasing an additional 50,104 shares in the last quarter. New York State Common Retirement Fund raised its position in Archer Aviation by 47.6% in the 1st quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock valued at $712,000 after purchasing an additional 32,300 shares in the last quarter. Private Advisor Group LLC raised its position in Archer Aviation by 429.6% in the 1st quarter. Private Advisor Group LLC now owns 272,072 shares of the company's stock valued at $1,934,000 after purchasing an additional 220,696 shares in the last quarter. Virtu Financial LLC raised its position in Archer Aviation by 704.2% in the 1st quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after purchasing an additional 314,844 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Archer Aviation by 42.4% during the 1st quarter. Swiss National Bank now owns 728,900 shares of the company's stock worth $5,182,000 after acquiring an additional 217,200 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ACHR shares. UBS Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Archer Aviation Trading Up 0.7%

ACHR opened at $8.51 on Monday. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -6.30 and a beta of 3.07. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The business's 50 day moving average is $10.15 and its two-hundred day moving average is $9.33. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 10,224 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the transaction, the chief financial officer owned 147,153 shares of the company's stock, valued at approximately $1,446,513.99. The trade was a 6.50% 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, General Counsel Eric Lentell sold 95,896 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total value of $1,016,497.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,964 shares of company stock worth $2,865,206. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Company Profile

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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