Vestmark Advisory Solutions Inc. Has $2.94 Million Stock Holdings in Archer Aviation Inc. $ACHR

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. decreased its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 413,725 shares of the company's stock after selling 198,042 shares during the quarter. Vestmark Advisory Solutions Inc. owned 0.08% of Archer Aviation worth $2,942,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ACHR. Vanguard Group Inc. grew its holdings in shares of Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Nuveen LLC bought a new stake in shares of Archer Aviation in the 1st quarter worth about $22,423,000. Alyeska Investment Group L.P. grew its holdings in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after purchasing an additional 3,064,280 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company's stock worth $29,377,000 after purchasing an additional 2,920,752 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Archer Aviation by 455.3% in the 4th quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock worth $31,605,000 after purchasing an additional 2,657,726 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Down 0.8%

Archer Aviation stock traded down $0.0750 during trading hours on Wednesday, reaching $9.2150. 23,070,708 shares of the company's stock traded hands, compared to its average volume of 31,037,836. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. 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 market capitalization of $5.06 billion, a price-to-earnings ratio of -6.83 and a beta of 3.08. The firm's 50 day moving average is $10.47 and its 200-day moving average is $9.39.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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). On average, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACHR. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.43.

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.