1,112,187 Shares in Archer Aviation Inc. (NYSE:ACHR) Purchased by Infinitum Asset Management LLC

Infinitum Asset Management LLC acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,112,187 shares of the company's stock, valued at approximately $10,844,000. Archer Aviation accounts for approximately 5.7% of Infinitum Asset Management LLC's portfolio, making the stock its 3rd largest holding. Infinitum Asset Management LLC owned 0.26% of Archer Aviation at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ARK Investment Management LLC increased its holdings in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Archer Aviation by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Archer Aviation by 14.2% during the fourth quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company's stock valued at $56,908,000 after purchasing an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Archer Aviation by 158.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after purchasing an additional 3,064,280 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Archer Aviation in the fourth quarter worth about $42,709,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analysts Set New Price Targets

ACHR has been the subject of several research analyst reports. Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Archer Aviation Trading Up 0.3%

Shares of NYSE ACHR traded up $0.03 during trading hours on Wednesday, hitting $10.95. 36,242,755 shares of the company traded hands, compared to its average volume of 23,363,984. The company's 50 day moving average price is $8.57 and its 200 day moving average price is $8.51. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -8.30 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In other news, CFO Priya Gupta sold 13,210 shares of the 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 $171,597.90. Following the sale, the chief financial officer now directly owns 134,104 shares in the company, valued at approximately $1,742,010.96. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 80,919 shares of the firm'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 $1,051,137.81. Following the sale, the chief technology officer now directly owns 1,253,294 shares of the company's stock, valued at $16,280,289.06. This represents 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 705,844 shares of company stock valued at $6,583,103. Company insiders own 7.65% of the company's stock.

About Archer Aviation

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.