Archer Aviation Inc. $ACHR Shares Sold by HBK Investments L P

Key Points

• HBK Investments L P has reduced its stake in Archer Aviation Inc. by 33.3%, owning 1,500,000 shares after selling 750,000 during the first quarter.
• Institutional investors hold 59.34% of Archer Aviation's stock, with Vanguard Group Inc. and others significantly increasing their positions in the company recently.
• Archer Aviation's latest earnings report showed a loss of ($0.36) EPS, missing analysts' expectations, while the stock currently has an average price target of $13.43.

HBK Investments L P decreased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,500,000 shares of the company's stock after selling 750,000 shares during the period. HBK Investments L P owned 0.28% of Archer Aviation worth $10,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Archer Aviation by 19.7% in the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after buying an additional 3,249,106 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after acquiring an additional 3,064,280 shares during the period. Alpine Global Management LLC increased its holdings in shares of Archer Aviation by 16.7% in the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company's stock worth $30,583,000 after acquiring an additional 615,481 shares during the period. Nuveen Asset Management LLC lifted its position in Archer Aviation by 455.3% in the 4th quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock valued at $31,605,000 after purchasing an additional 2,657,726 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Archer Aviation during the 1st quarter valued at about $22,423,000. 59.34% of the stock is currently owned by institutional investors.

Insider Transactions at Archer Aviation

In other news, General Counsel Eric Lentell sold 95,896 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. This represents a 12.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 283,964 shares of company stock worth $2,865,206. Corporate insiders own 7.65% of the company's stock.

Analysts Set New Price Targets

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

Archer Aviation Price Performance

NYSE ACHR opened at $8.97 on Monday. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92. The firm has a market capitalization of $5.78 billion, a PE ratio of -6.64 and a beta of 3.07. The company's 50 day simple moving average is $10.32 and its 200 day simple moving average is $9.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal 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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