Archer Aviation Inc. $ACHR Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has increased its holdings in Archer Aviation Inc. by 57.5%, owning 114,500 shares valued at approximately $1.24 million as of its latest SEC filing.
• Archer Aviation reported a quarterly earnings loss of ($0.36) EPS, missing estimates; analysts expect the company to post -1.32 earnings per share for the current fiscal year.
• Wall Street analysts show a mixed outlook, with a majority giving the stock a buy rating while Weiss Ratings maintains a sell rating.

KLP Kapitalforvaltning AS boosted its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 57.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,500 shares of the company's stock after purchasing an additional 41,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Archer Aviation were worth $1,242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the period. Alpine Global Management LLC increased its stake in Archer Aviation by 16.7% in the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company's stock valued at $30,583,000 after purchasing an additional 615,481 shares in the last quarter. Nuveen LLC purchased a new position in Archer Aviation in the 1st quarter valued at approximately $22,423,000. Northern Trust Corp increased its stake in Archer Aviation by 32.5% in the 1st quarter. Northern Trust Corp now owns 3,108,457 shares of the company's stock valued at $22,101,000 after purchasing an additional 762,398 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Archer Aviation by 36.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company's stock valued at $22,080,000 after purchasing an additional 827,893 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Trading Up 1.8%

NYSE:ACHR opened at $13.00 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. Archer Aviation Inc. has a one year low of $2.98 and a one year high of $13.92. The business's 50-day simple moving average is $9.84 and its 200 day simple moving average is $9.74. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of -9.63 and a beta of 3.06.

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). As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. UBS Group reissued a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.43.

Insiders Place Their Bets

In other news, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at approximately $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the transaction, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is 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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