Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. reduced its holdings in Archer Aviation by 32.4%, now owning about 413,725 shares worth $2.94 million.
• Vanguard Group Inc. increased its stake by 19.7%, making it one of the largest shareholders with nearly 19.73 million shares valued at $140.27 million.
• Archer Aviation reported a quarterly loss of ($0.36) EPS, missing the analysts' estimates, with an average target price of $13.43 suggesting potential upside for investors.

Vestmark Advisory Solutions Inc. lowered its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,725 shares of the company's stock after selling 198,042 shares during the quarter. Vestmark Advisory Solutions Inc. owned about 0.08% of Archer Aviation worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ACHR. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 19.7% in the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the period. Nuveen LLC bought a new position in shares of Archer Aviation in the first quarter valued at approximately $22,423,000. Alyeska Investment Group L.P. boosted its holdings in shares of Archer Aviation by 158.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after acquiring an additional 3,064,280 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Archer Aviation by 3,166.8% in the fourth quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company's stock valued at $29,377,000 after acquiring an additional 2,920,752 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Archer Aviation by 455.3% in the fourth quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock valued at $31,605,000 after acquiring an additional 2,657,726 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Eric Lentell sold 95,896 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total value of $1,016,497.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.65% of the company's stock.

Archer Aviation Trading Down 1.6%

Shares of NYSE:ACHR opened at $9.83 on Friday. 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 Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.80 and a current ratio of 22.30. The company has a 50 day moving average price of $10.60 and a 200 day moving average price of $9.38.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on ACHR shares. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Tuesday. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

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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