Fox Run Management L.L.C. Purchases New Shares in Archer Aviation Inc. $ACHR

Fox Run Management L.L.C. purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,564 shares of the company's stock, valued at approximately $440,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC acquired a new position in shares of Archer Aviation in the second quarter worth about $465,000. New York State Common Retirement Fund raised its position in shares of Archer Aviation by 47.6% in the 1st quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock valued at $712,000 after purchasing an additional 32,300 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Archer Aviation by 429.6% during the 1st quarter. Private Advisor Group LLC now owns 272,072 shares of the company's stock valued at $1,934,000 after buying an additional 220,696 shares during the last quarter. Virtu Financial LLC grew its position in shares of Archer Aviation by 704.2% during the first quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock worth $2,556,000 after buying an additional 314,844 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Archer Aviation by 42.4% in the first quarter. Swiss National Bank now owns 728,900 shares of the company's stock worth $5,182,000 after buying an additional 217,200 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Needham & Company LLC cut their target price on shares of Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. Cantor Fitzgerald set a $13.00 price target on Archer Aviation in a research note on Monday. UBS Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on Archer Aviation from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.57.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the sale, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Lentell sold 48,936 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $481,040.88. Following the transaction, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. This trade represents a 50.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,068 shares of company stock worth $1,848,708 over the last ninety days. 7.65% of the stock is owned by company insiders.

Archer Aviation Stock Performance

ACHR stock opened at $8.95 on Wednesday. Archer Aviation Inc. has a 1 year low of $4.05 and a 1 year high of $14.62. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -7.10 and a beta of 3.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The stock's fifty day moving average is $10.29 and its two-hundred day moving average is $10.25.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). On average, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

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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