Janus Henderson Group PLC Acquires 39,500 Shares of Archer Aviation Inc. (NYSE:ACHR)

Janus Henderson Group PLC grew its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 52.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,700 shares of the company's stock after acquiring an additional 39,500 shares during the period. Janus Henderson Group PLC's holdings in Archer Aviation were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after buying an additional 446,864 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock valued at $501,000 after acquiring an additional 36,840 shares during the period. ARK Investment Management LLC grew its position in shares of 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 period. Apollon Wealth Management LLC acquired a new position in shares of Archer Aviation during the 4th quarter worth about $296,000. Finally, Vanguard Group Inc. raised its holdings in shares of Archer Aviation by 21.4% in the 4th 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 during the period. Institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ACHR. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a research note on Friday, May 16th. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Canaccord Genuity Group increased their price target on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Raymond James lifted their price objective 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Archer Aviation Stock Performance

ACHR traded down $0.01 during trading on Monday, hitting $10.59. The stock had a trading volume of 20,008,645 shares, compared to its average volume of 23,268,849. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a 50 day moving average price of $8.52 and a 200-day moving average price of $8.49. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -8.02 and a beta of 3.13.

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

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 13,210 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the transaction, the chief financial officer now owns 134,104 shares in the company, valued at $1,742,010.96. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares of the company's stock, valued at approximately $4,852,871.10. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 705,844 shares of company stock worth $6,583,103 in the last quarter. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation 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.