BNP Paribas Financial Markets Buys 4,146,574 Shares of Archer Aviation Inc. $ACHR

Key Points

• BNP Paribas Financial Markets boosted its Archer Aviation stake by 423.3% in the fourth quarter, buying 4.15 million additional shares and bringing its total holdings to 5.13 million shares, worth about $38.5 million.
• Institutional ownership remains high, with several major funds adding to positions in ACHR, including Vanguard, ARK Investment Management, Geode Capital, and Norges Bank, while institutions now own 59.34% of the stock.
• Insiders sold shares recently, including Tosha Perkins and Eric Lentell, and Archer reported a quarterly loss of $0.28 per share, missing estimates as revenue came in slightly below expectations.

BNP Paribas Financial Markets increased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 423.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,126,217 shares of the company's stock after purchasing an additional 4,146,574 shares during the period. BNP Paribas Financial Markets owned approximately 0.79% of Archer Aviation worth $38,549,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Archer Aviation by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the period. ARK Investment Management LLC boosted its stake in Archer Aviation by 5.8% in the third quarter. ARK Investment Management LLC now owns 31,301,449 shares of the company's stock valued at $299,868,000 after buying an additional 1,715,945 shares in the last quarter. Geode Capital Management LLC boosted its stake in Archer Aviation by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company's stock valued at $108,197,000 after buying an additional 1,867,648 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Archer Aviation by 21.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company's stock valued at $59,515,000 after buying an additional 1,407,775 shares in the last quarter. Finally, Norges Bank acquired a new stake in Archer Aviation in the fourth quarter valued at about $58,494,000. Institutional investors own 59.34% of the company's stock.

Insider Activity

In other news, insider Tosha Perkins sold 10,949 shares of Archer Aviation stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the sale, the insider directly owned 384,768 shares of the company's stock, valued at approximately $2,412,495.36. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares in the company, valued at $839,449.80. The trade was a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 282,840 shares of company stock valued at $1,703,688. 7.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ACHR shares. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reduced their price objective on Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.

Archer Aviation Stock Performance

NYSE:ACHR opened at $6.53 on Thursday. The stock's 50-day simple moving average is $5.94 and its 200 day simple moving average is $6.99. Archer Aviation Inc. has a twelve month low of $4.80 and a twelve month high of $14.62. The firm has a market capitalization of $4.96 billion, a PE ratio of -5.93 and a beta of 3.14. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analysts' expectations of $1.66 million. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, analysts anticipate that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Archer Aviation Profile

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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