Headlands Technologies LLC Sells 1,125,159 Shares of Archer Aviation Inc. (NYSE:ACHR)

Key Points

• Headlands Technologies LLC significantly reduced its holdings in Archer Aviation by 99.5%, selling over 1.1 million shares and leaving them with only 5,646 shares valued at approximately $40,000.
• Analysts are generally optimistic about Archer Aviation, with a consensus rating of "Moderate Buy" and a price target averaging $13.43, with several firms initiating "buy" ratings.
• Insider trading activity revealed that both CFO Priya Gupta and another executive sold shares valued at over $830,000, indicating a notable decrease in their positions within the company.

Headlands Technologies LLC decreased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 99.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,646 shares of the company's stock after selling 1,125,159 shares during the period. Headlands Technologies LLC's holdings in Archer Aviation were worth $40,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $27,000. Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares during the period. Allworth Financial LP grew its holdings 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 during the period. Tidemark LLC grew its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares during the period. Finally, Comerica Bank grew its holdings in shares of Archer Aviation by 113.2% during the 4th quarter. Comerica Bank now owns 4,076 shares of the company's stock worth $40,000 after acquiring an additional 2,164 shares during the period. Institutional investors own 59.34% of the company's stock.

Analysts Set New Price Targets

ACHR has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. UBS Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their price target on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.43.

Archer Aviation Stock Down 1.6%

ACHR traded down $0.16 during trading on Friday, hitting $9.83. 20,914,625 shares of the company's stock traded hands, compared to its average volume of 35,408,824. The company's 50 day simple moving average is $10.60 and its two-hundred day simple moving average is $9.39. The company has a current ratio of 22.30, a quick ratio of 15.80 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of -7.28 and a beta of 3.08.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its 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). Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Eric Lentell sold 95,896 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.65% of the company's stock.

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.