Maxi Investments CY Ltd Takes $1.82 Million Position in Archer Aviation Inc. $ACHR

Key Points

• Maxi Investments CY Ltd acquired 242,000 shares of Archer Aviation (NYSE:ACHR) in Q4, a new position valued at approximately $1.82 million.
• Other institutions shifted stakes too — notably UBS Asset Management raised its holding to 844,017 shares (about $6.0 million) — and institutional investors now own roughly 59.34% of the company.
• Insiders sold a combined 255,750 shares worth about $1.65 million last quarter, while Archer missed quarterly EPS and revenue estimates; analysts still carry a consensus "Moderate Buy" rating with a $12 target.

Maxi Investments CY Ltd acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 242,000 shares of the company's stock, valued at approximately $1,820,000.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Archer Aviation during the first quarter valued at $293,000. Integrated Wealth Concepts LLC grew its position in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock worth $98,000 after purchasing an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company's stock valued at $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Archer Aviation by 51.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company's stock valued at $6,001,000 after buying an additional 285,414 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CAO Harsh Rungta sold 22,826 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the sale, the chief accounting officer directly owned 65,458 shares of the company's stock, valued at approximately $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 54,786 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $353,917.56. Following the completion of the sale, the insider owned 377,022 shares of the company's stock, valued at $2,435,562.12. This trade represents a 12.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 255,750 shares of company stock worth $1,645,333 over the last quarter. Company insiders own 7.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ACHR. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Monday, April 20th. Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $6.30 on Friday. The company has a market capitalization of $4.69 billion, a PE ratio of -6.36 and a beta of 3.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The company's fifty day moving average price is $5.97 and its 200 day moving average price is $7.49. Archer Aviation Inc. has a 1 year low of $4.80 and a 1 year high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. Archer Aviation's revenue was up 29900.0% on a year-over-year basis. On average, research analysts predict that Archer Aviation Inc. will post -1.51 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.

Want to see what other hedge funds are holding ACHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Aviation Inc. (NYSE:ACHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.