Green Alpha Advisors LLC Has $1.08 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Green Alpha Advisors LLC lifted its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 78.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,572 shares of the company's stock after purchasing an additional 66,449 shares during the quarter. Archer Aviation accounts for 1.1% of Green Alpha Advisors LLC's portfolio, making the stock its 25th largest position. Green Alpha Advisors LLC's holdings in Archer Aviation were worth $1,078,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ACHR. PFG Investments LLC lifted its position in shares of Archer Aviation by 16.3% in the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company's stock worth $223,000 after purchasing an additional 3,192 shares in the last quarter. Spire Wealth Management raised its position in Archer Aviation by 266.7% during the fourth quarter. Spire Wealth Management now owns 16,500 shares of the company's stock valued at $161,000 after acquiring an additional 12,000 shares in the last quarter. River Street Advisors LLC bought a new position in Archer Aviation during the fourth quarter valued at approximately $195,000. GPS Wealth Strategies Group LLC raised its position in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Sargent Investment Group LLC raised its position in Archer Aviation by 21.0% during the fourth quarter. Sargent Investment Group LLC now owns 288,030 shares of the company's stock valued at $2,808,000 after acquiring an additional 49,900 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the sale, the general counsel now owns 53,225 shares in the company, valued at $409,832.50. The trade was a 44.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Priya Gupta sold 13,210 shares of Archer Aviation stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the sale, the chief financial officer now owns 134,104 shares in the company, valued at $1,742,010.96. This represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 705,844 shares of company stock worth $6,583,103. Insiders own 7.65% of the company's stock.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded down $0.37 during trading on Monday, reaching $9.73. The stock had a trading volume of 18,593,780 shares, compared to its average volume of 23,606,602. The stock has a fifty day simple moving average of $8.67 and a two-hundred day simple moving average of $8.66. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of -7.37 and a beta of 3.13. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACHR has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Finally, Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.50.

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.