Green Alpha Advisors LLC Purchases 66,449 Shares of Archer Aviation Inc. (NYSE:ACHR)

Green Alpha Advisors LLC boosted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 78.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,572 shares of the company's stock after purchasing an additional 66,449 shares during the quarter. Archer Aviation comprises approximately 1.1% of Green Alpha Advisors LLC's investment portfolio, making the stock its 25th biggest position. Green Alpha Advisors LLC's holdings in Archer Aviation were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ACHR. ARK Investment Management LLC boosted its position in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation in the 4th quarter valued at $42,709,000. Alyeska Investment Group L.P. raised its holdings in shares of Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after buying an additional 3,064,280 shares in the last quarter. Two Sigma Investments LP boosted its stake in 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 buying an additional 2,920,752 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Archer Aviation by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Down 0.5%

Shares of Archer Aviation stock traded down $0.05 during midday trading on Wednesday, reaching $9.67. 17,536,009 shares of the company's stock traded hands, compared to its average volume of 29,297,527. The stock has a 50 day moving average of $8.74 and a 200-day moving average of $8.71. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92. The company has a market cap of $5.31 billion, a PE ratio of -7.33 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

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, beating analysts' consensus estimates of ($0.21) by $0.04. As a group, equities analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 80,919 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the transaction, the chief technology officer now directly owns 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. The trade was a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mesler sold 34,498 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares of the company's stock, valued at approximately $4,641,873.28. This trade represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACHR. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Raymond James boosted 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 investment 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, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

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.