Archer Aviation Inc. $ACHR Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its Q4 stake in Archer Aviation by 4.4% to 54,676,158 shares, holding about 8.39% of the company valued at roughly $411.2 million.
• Insider selling was notable last quarter — insiders sold 255,750 shares totaling $1.65 million, including CAO Harsh Rungta and Eric Lentell who reduced their positions by about 25.9% and 21.1%, respectively.
• Analysts have a consensus "Moderate Buy" with an average target of $12, but Archer missed its recent quarter (EPS $(0.26) vs. $(0.17) expected; revenue $0.30M vs. $1.40M expected) and projects a negative EPS for the year.

Vanguard Group Inc. boosted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,676,158 shares of the company's stock after purchasing an additional 2,312,899 shares during the period. Vanguard Group Inc. owned approximately 8.39% of Archer Aviation worth $411,165,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Bank of Jackson Hole Trust grew its position in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after acquiring an additional 986 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company's stock valued at $443,000 after acquiring an additional 1,107 shares during the period. Farther Finance Advisors LLC grew its position in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company's stock valued at $140,000 after acquiring an additional 1,220 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company's stock valued at $344,000 after acquiring an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC grew its position in shares of Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company's stock valued at $422,000 after acquiring an additional 1,254 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Archer Aviation

In other news, CAO Harsh Rungta sold 22,826 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was 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 in the company, valued at $422,858.68. The trade was a 25.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Lentell sold 37,390 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $241,539.40. Following the transaction, the insider owned 139,483 shares in the company, valued at approximately $901,060.18. This represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 255,750 shares of company stock worth $1,645,333. 7.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

ACHR has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research report on Monday, April 20th. Needham & Company LLC dropped their target price on Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Archer Aviation Trading Up 9.8%

Shares of Archer Aviation stock opened at $6.42 on Thursday. The stock has a market cap of $4.78 billion, a P/E ratio of -6.48 and a beta of 3.13. The stock's 50 day simple moving average is $5.99 and its 200-day simple moving average is $7.53. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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. The business's revenue was up 29900.0% compared to the same quarter last year. Analysts predict that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Archer Aviation Company 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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