Infinitum Asset Management LLC Buys New Stake in Archer Aviation Inc. (NYSE:ACHR)

Infinitum Asset Management LLC bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,112,187 shares of the company's stock, valued at approximately $10,844,000. Archer Aviation comprises 5.7% of Infinitum Asset Management LLC's investment portfolio, making the stock its 3rd largest position. Infinitum Asset Management LLC owned approximately 0.26% of Archer Aviation as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC purchased a new position in shares of Archer Aviation during the 4th quarter valued at $29,000. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares in the last quarter. Oarsman Capital Inc. lifted its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Trading Down 2.5%

Shares of Archer Aviation stock traded down $0.28 on Thursday, reaching $10.68. The company had a trading volume of 15,348,630 shares, compared to its average volume of 23,410,149. The firm's 50 day moving average price is $8.61 and its two-hundred day moving average price is $8.53. The firm has a market cap of $5.86 billion, a PE ratio of -8.12 and a beta of 3.13. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $13.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.04. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACHR shares. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Friday, May 16th. Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.50.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. This represents a 8.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 705,844 shares of company stock worth $6,583,103. Corporate 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.