Hsbc Holdings PLC Grows Position in Archer Aviation Inc. $ACHR

Key Points

• Hsbc Holdings PLC sharply increased its Archer Aviation stake by 476.7% in the first quarter, ending with 568,861 shares worth about $2.93 million.
• Insiders sold shares recently: CTO Thomas Paul Muniz sold 91,839 shares and CFO Priya Gupta sold 9,860 shares, both tied to tax withholding on equity awards. Over the last 90 days, insiders sold 250,743 shares total.
• Archer Aviation reported a Q1 loss of $0.28 per share, wider than estimates, while analysts currently rate the stock Hold on average with a consensus price target of $11.83.

Hsbc Holdings PLC boosted its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 476.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,861 shares of the company's stock after buying an additional 470,216 shares during the period. Hsbc Holdings PLC owned 0.08% of Archer Aviation worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gould Capital LLC grew its position in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock worth $27,000 after acquiring an additional 2,507 shares during the last quarter. Strs Ohio purchased a new stake in Archer Aviation in the 1st quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its stake in Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock worth $28,000 after purchasing an additional 3,335 shares during the period. Modus Advisors LLC acquired a new stake in Archer Aviation during the 4th quarter worth $29,000. Finally, Basepoint Wealth LLC purchased a new position in Archer Aviation during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer owned 189,050 shares of the company's stock, valued at $1,124,847.50. The trade was a 4.96% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock valued at $1,497,672 over the last 90 days. 5.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ACHR shares. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Friday, July 17th. Canaccord Genuity Group lowered their price target on Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of "Hold" and a consensus target price of $11.83.

Archer Aviation Stock Performance

Shares of ACHR opened at $4.75 on Friday. Archer Aviation Inc. has a 1 year low of $4.30 and a 1 year high of $14.62. The stock has a market capitalization of $3.61 billion, a P/E ratio of -4.32 and a beta of 3.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The company's fifty day moving average is $5.45 and its two-hundred day moving average is $6.28.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same quarter last year, the business posted ($0.17) EPS. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Archer Aviation Profile

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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