Burr Financial Services LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,405 shares of the company's stock, valued at approximately $438,000. Archer Aviation accounts for approximately 0.4% of Burr Financial Services LLC's portfolio, making the stock its 20th biggest position.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Archer Aviation by 19.7% during the first 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 in the last quarter. Nuveen LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at $22,423,000. Two Sigma Investments LP lifted its stake 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 valued at $29,377,000 after purchasing an additional 2,920,752 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Archer Aviation by 455.3% during 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 period. Finally, Wellington Management Group LLP purchased a new stake in Archer Aviation during the 4th quarter worth about $15,912,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.
Archer Aviation Stock Performance
Archer Aviation stock traded up $0.53 during mid-day trading on Friday, reaching $9.78. 29,384,390 shares of the company were exchanged, compared to its average volume of 32,036,992. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The firm's 50-day simple moving average is $9.87 and its two-hundred day simple moving average is $9.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The firm has a market cap of $6.31 billion, a PE ratio of -7.26 and a beta of 3.07.
Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently commented on ACHR shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.
Read Our Latest Stock Analysis on Archer Aviation
Insider Transactions at Archer Aviation
In related news, CFO Priya Gupta sold 10,224 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 283,964 shares of company stock valued at $2,865,206. Company insiders own 7.65% of the company's stock.
About Archer Aviation
(
Free Report)
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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