Archer Aviation Inc. $ACHR Stock Position Increased by MetLife Investment Management LLC

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 Archer Aviation Inc. (NYSE:ACHR - Free Report) by 32.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,830 shares of the company's stock after buying an additional 46,478 shares during the period. MetLife Investment Management LLC's holdings in Archer Aviation were worth $1,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Archer Aviation in the fourth quarter worth about $27,000. Tidemark LLC raised its position in Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Archer Aviation in the first quarter worth about $31,000. Finally, ORG Partners LLC bought a new stake in Archer Aviation in the first quarter worth about $32,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Down 2.6%

NYSE:ACHR opened at $8.38 on Thursday. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of -6.20 and a beta of 3.07. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The business's fifty day moving average price is $10.23 and its 200 day moving average price is $9.36.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the 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 transaction, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock worth $2,865,206 in the last ninety days. Company insiders own 7.65% of the company's stock.

Archer Aviation 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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