Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Informed Momentum Co LLC

Informed Momentum Co LLC reduced its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 29.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,111 shares of the company's stock after selling 79,395 shares during the period. Informed Momentum Co LLC's holdings in Archer Aviation were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Alliancebernstein L.P. raised its holdings in Archer Aviation by 2.4% in the 4th quarter. Alliancebernstein L.P. now owns 250,090 shares of the company's stock valued at $2,438,000 after acquiring an additional 5,800 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Archer Aviation by 89.7% in the 4th quarter. Wells Fargo & Company MN now owns 242,374 shares of the company's stock valued at $2,363,000 after acquiring an additional 114,616 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Archer Aviation by 16.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 172,860 shares of the company's stock valued at $1,685,000 after acquiring an additional 24,390 shares during the last quarter. Cerity Partners LLC raised its holdings in Archer Aviation by 5.8% in the 4th quarter. Cerity Partners LLC now owns 226,993 shares of the company's stock valued at $2,197,000 after acquiring an additional 12,515 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Archer Aviation by 19.5% in the 4th quarter. Invesco Ltd. now owns 2,212,208 shares of the company's stock valued at $21,569,000 after acquiring an additional 360,282 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Up 7.4%

Shares of NYSE ACHR opened at $10.25 on Wednesday. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $13.92. The firm has a fifty day moving average of $10.59 and a 200-day moving average of $9.37. The stock has a market capitalization of $5.63 billion, a PE ratio of -7.59 and a beta of 3.08. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07.

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

Insider Activity

In related news, insider Tosha Perkins sold 40,186 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $522,016.14. Following the completion of the sale, the insider directly owned 256,799 shares of the company's stock, valued at approximately $3,335,819.01. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 80,919 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the sale, the chief technology officer directly owned 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,960 shares of company stock worth $4,018,019 in the last quarter. Insiders own 7.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACHR. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.43.

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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