Janus Henderson Group PLC Has $1.12 Million Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Janus Henderson Group PLC raised its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hudson Bay Capital Management LP boosted its stake in Archer Aviation by 27.9% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,602,510 shares of the company's stock valued at $25,374,000 after purchasing an additional 567,059 shares in the last quarter. Granahan Investment Management LLC bought a new position in Archer Aviation in the 4th quarter worth approximately $20,711,000. Ground Swell Capital LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at $302,000. Ethic Inc. increased its position in shares of Archer Aviation by 13.2% in the 4th quarter. Ethic Inc. now owns 19,582 shares of the company's stock valued at $191,000 after buying an additional 2,282 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Archer Aviation during the 4th quarter worth about $449,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Stock Performance

Shares of ACHR traded down $0.01 on Friday, reaching $10.59. The company's stock had a trading volume of 20,008,645 shares, compared to its average volume of 23,192,031. 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 stock has a market capitalization of $5.81 billion, a P/E ratio of -8.02 and a beta of 3.13. The stock's 50 day simple moving average is $8.47 and its two-hundred day simple moving average is $8.37. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92.

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

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the transaction, the insider now directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 705,844 shares of company stock worth $6,583,103 in the last three months. Corporate insiders own 7.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a report on Tuesday, May 13th. Canaccord Genuity Group boosted their target price 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. 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. Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.50.

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.