Archer Aviation Inc. $ACHR Shares Bought by Vestor Capital LLC

Key Points

• Vestor Capital LLC boosted its stake in Archer Aviation by 1,014.7% in Q2, adding 253,666 shares to own 278,666 shares (about 0.05% of the company) valued at roughly $3.02 million.
• Insider selling has been significant: CTO Thomas Muniz sold 90,648 shares and another insider sold 41,490 on Nov 17, and insiders have sold 182,635 shares (~$1.37 million) in the past 90 days while owning 7.65% of the stock.
• Analysts collectively rate Archer a "Moderate Buy" with a consensus target price of $12.71 (seven Buys, one Hold, one Sell).

Vestor Capital LLC grew its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 1,014.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,666 shares of the company's stock after purchasing an additional 253,666 shares during the quarter. Vestor Capital LLC owned about 0.05% of Archer Aviation worth $3,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACHR. New York State Common Retirement Fund grew its stake in Archer Aviation by 47.6% during the 1st quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock worth $712,000 after buying an additional 32,300 shares during the last quarter. CWM LLC grew its stake in shares of Archer Aviation by 13.6% during the first quarter. CWM LLC now owns 12,133 shares of the company's stock worth $86,000 after acquiring an additional 1,451 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Archer Aviation by 37.0% during the first quarter. Victory Capital Management Inc. now owns 49,121 shares of the company's stock worth $349,000 after acquiring an additional 13,259 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after acquiring an additional 1,358 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Archer Aviation by 342.3% in the 1st quarter. IFP Advisors Inc now owns 8,845 shares of the company's stock valued at $63,000 after purchasing an additional 6,845 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

ACHR has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Cantor Fitzgerald set a $13.00 price target on Archer Aviation in a research note on Monday, November 10th. Needham & Company LLC reduced their price objective on Archer Aviation from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, November 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group increased their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Friday. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.71.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the completion of the transaction, the chief technology officer owned 1,397,129 shares in the company, valued at $10,464,496.21. The trade was a 6.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Lentell sold 41,490 shares of the stock in a transaction that occurred 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 transaction, the insider owned 83,733 shares in the company, valued at $627,160.17. This represents a 33.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is currently owned by insiders.

Archer Aviation Trading Up 4.7%

Shares of NYSE:ACHR opened at $7.19 on Friday. 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 12-month low of $5.48 and a 12-month high of $14.62. The business has a 50 day moving average of $10.15 and a two-hundred day moving average of $10.18. The company has a market capitalization of $4.68 billion, a PE ratio of -5.71 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). As a group, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

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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