Archer Aviation Inc. $ACHR Shares Acquired by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC increased its stake in Archer Aviation Inc. by 31.8% in Q1, acquiring 676,013 additional shares, bringing its total holdings to 2,800,177 shares.
• Archer Aviation reported a loss of ($0.36) earnings per share in its latest earnings report, missing analysts' expectations of ($0.24).
• Seven analysts have given Archer Aviation a "Buy" rating, with a consensus price target of $13.43, reflecting positive market sentiment towards the company's future prospects.

Granahan Investment Management LLC grew its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,800,177 shares of the company's stock after acquiring an additional 676,013 shares during the period. Archer Aviation comprises 1.0% of Granahan Investment Management LLC's portfolio, making the stock its 29th largest holding. Granahan Investment Management LLC owned 0.52% of Archer Aviation worth $19,909,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Archer Aviation by 19.7% in the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after buying an additional 3,249,106 shares in the last quarter. Alpine Global Management LLC increased its holdings in Archer Aviation by 16.7% in the first quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company's stock valued at $30,583,000 after buying an additional 615,481 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Archer Aviation by 455.3% in the fourth quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock valued at $31,605,000 after buying an additional 2,657,726 shares in the last quarter. Nuveen LLC purchased a new position in Archer Aviation in the first quarter valued at about $22,423,000. Finally, Northern Trust Corp increased its holdings in Archer Aviation by 32.5% in the first quarter. Northern Trust Corp now owns 3,108,457 shares of the company's stock valued at $22,101,000 after buying an additional 762,398 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ACHR shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, UBS Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus target price of $13.43.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the sale, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of the business'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 transaction of $100,501.92. Following the sale, the chief financial officer owned 147,153 shares of the company's stock, 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. Insiders have sold 283,964 shares of company stock valued at $2,865,206 in the last ninety days. Corporate insiders own 7.65% of the company's stock.

Archer Aviation Trading Down 0.6%

Shares of NYSE:ACHR traded down $0.05 during trading on Tuesday, reaching $8.46. The stock had a trading volume of 8,737,335 shares, compared to its average volume of 32,033,438. The business has a fifty day moving average price of $10.10 and a 200-day moving average price of $9.32. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.45 billion, a P/E ratio of -6.27 and a beta of 3.07. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

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.