DDD Partners LLC Purchases New Position in Archer Aviation Inc. $ACHR

Key Points

• DDD Partners LLC has purchased a new stake in Archer Aviation Inc. (NYSE: ACHR), acquiring 25,970 shares valued at approximately $282,000 in the second quarter.
• Recent insider activity includes significant share sales by insiders, with Tosha Perkins selling 42,775 shares and CFO Priya Gupta selling 10,224 shares, both at around $9.83 per share.
• Archer Aviation reported earnings per share of ($0.36) for the last quarter, missing analysts' expectations, and currently has a consensus rating of "Moderate Buy" with an average price target of $13.43.

DDD Partners LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,970 shares of the company's stock, valued at approximately $282,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC increased its position in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock valued at $28,000 after acquiring an additional 2,375 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Archer Aviation by 471.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 24,623 shares of the company's stock worth $267,000 after purchasing an additional 20,314 shares during the period. Ethic Inc. grew its position in Archer Aviation by 94.3% in the 2nd quarter. Ethic Inc. now owns 33,999 shares of the company's stock worth $356,000 after purchasing an additional 16,505 shares during the period. ARK Investment Management LLC grew its position in Archer Aviation by 8.3% in the 2nd quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company's stock worth $321,003,000 after purchasing an additional 2,270,471 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in Archer Aviation in the 2nd quarter worth approximately $868,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Price Performance

Shares of ACHR traded up $0.38 during trading hours on Friday, reaching $11.29. 3,820,914 shares of the stock traded hands, compared to its average volume of 36,262,590. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 52-week low of $3.05 and a 52-week high of $14.62. The company's 50-day moving average price is $10.08 and its two-hundred day moving average price is $9.95. The company has a market cap of $7.28 billion, a P/E ratio of -8.34 and a beta of 3.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results 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). On average, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

ACHR has been the subject of a number of research analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider directly owned 295,337 shares in the company, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at approximately $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by insiders.

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.

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