MetLife Investment Management LLC Boosts Stock Position in Archer Aviation Inc. $ACHR

Key Points

• MetLife Investment Management LLC has increased its stake in Archer Aviation by 32.7%, holding a total of 188,830 shares, valued at $1,343,000.
• Archer Aviation's stock is currently down 2.6%, with a market capitalization of $5.40 billion and a price-to-earnings ratio of -6.20.
• The company reported a quarterly loss of ($0.36) earnings per share, missing the consensus estimate, with analysts expecting a forecast of -1.32 earnings per share for the current fiscal year.

MetLife Investment Management LLC boosted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,830 shares of the company's stock after purchasing an additional 46,478 shares during the quarter. MetLife Investment Management LLC's holdings in Archer Aviation were worth $1,343,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. EP Wealth Advisors LLC increased its holdings in Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after purchasing an additional 1,000 shares during the period. Kestra Private Wealth Services LLC boosted its position in shares of Archer Aviation by 8.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock worth $121,000 after acquiring an additional 1,358 shares in the last quarter. CWM LLC boosted its position in shares of Archer Aviation by 13.6% during the 1st quarter. CWM LLC now owns 12,133 shares of the company's stock worth $86,000 after acquiring an additional 1,451 shares in the last quarter. Allworth Financial LP boosted its position in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after acquiring an additional 1,664 shares in the last quarter. Finally, Texas Yale Capital Corp. boosted its position in shares of Archer Aviation by 6.1% during the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company's stock worth $209,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded up $0.06 during trading hours on Friday, reaching $8.51. The stock had a trading volume of 17,956,025 shares, compared to its average volume of 25,064,652. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -6.30 and a beta of 3.07. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $13.92. The firm has a 50-day moving average of $10.15 and a 200-day moving average of $9.33.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its 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). Equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $13.43.

Insider Buying and Selling

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of the company'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 transaction of $420,478.25. Following the completion of the sale, the insider directly owned 295,337 shares of the company's stock, valued at $2,903,162.71. This represents a 12.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Lentell sold 48,936 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider directly owned 47,518 shares of the company's stock, valued at approximately $467,101.94. This represents a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock valued at $2,865,206 in the last quarter. 7.65% of the stock is currently owned by 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.