GF Fund Management CO. LTD. Takes Position in Archer Aviation Inc. (NYSE:ACHR)

GF Fund Management CO. LTD. purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 51,892 shares of the company's stock, valued at approximately $369,000.

A number of other institutional investors also recently modified their holdings of the business. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation during the 4th quarter valued at about $27,000. Conquis Financial LLC bought a new position in shares of Archer Aviation in the fourth quarter worth approximately $29,000. Oarsman Capital Inc. boosted its position in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings 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 buying an additional 1,224 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 40,186 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $522,016.14. Following the completion of the sale, the insider directly owned 256,799 shares in the company, valued at approximately $3,335,819.01. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 80,919 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the sale, the chief technology officer owned 1,253,294 shares of the company's stock, valued at $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,960 shares of company stock worth $4,441,519. 7.65% of the stock is owned by insiders.

Archer Aviation Stock Up 1.4%

Shares of NYSE ACHR traded up $0.14 during mid-day trading on Wednesday, reaching $10.51. The company had a trading volume of 23,765,547 shares, compared to its average volume of 26,900,772. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The stock has a market capitalization of $5.77 billion, a PE ratio of -8.02 and a beta of 3.10. The stock's 50 day moving average is $10.27 and its 200-day moving average is $9.21.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Monday, June 23rd. Canaccord Genuity Group decreased their target price on Archer Aviation from $13.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, June 16th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price (up previously from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and an average target price of $13.13.

Archer Aviation Company 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.