California State Teachers Retirement System Raises Position in Archer Aviation Inc. (NYSE:ACHR)

California State Teachers Retirement System grew its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 26.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,396 shares of the company's stock after buying an additional 50,104 shares during the period. California State Teachers Retirement System's holdings in Archer Aviation were worth $2,354,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ACHR. Sunbelt Securities Inc. acquired a new stake in Archer Aviation during the fourth quarter worth approximately $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the 4th quarter valued at $29,000. Oarsman Capital Inc. grew its holdings in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares during the period. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Up 0.9%

Shares of ACHR traded up $0.11 during mid-day trading on Tuesday, reaching $11.37. 32,557,148 shares of the company were exchanged, compared to its average volume of 24,406,869. The business has a 50 day simple moving average of $9.07 and a two-hundred day simple moving average of $8.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a market capitalization of $6.24 billion, a PE ratio of -8.61 and a beta of 3.13. 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 earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.04. On average, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 13,210 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $171,597.90. Following the completion of the sale, the chief financial officer now directly owns 134,104 shares in the company, valued at $1,742,010.96. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares of the company's stock, valued at $1,849,217.92. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,859 shares of company stock valued at $4,627,418. Corporate insiders own 7.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACHR. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. HC Wainwright lifted their price objective on shares of Archer Aviation from $12.00 to $18.00 and gave the company a "buy" rating in a research note on Monday. 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. Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $13.19.

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.