Nisa Investment Advisors LLC Boosts Position in Archer Aviation Inc. (NYSE:ACHR)

Nisa Investment Advisors LLC increased its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 948.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,346 shares of the company's stock after purchasing an additional 50,065 shares during the period. Nisa Investment Advisors LLC's holdings in Archer Aviation were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ACHR. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company's stock worth $56,908,000 after purchasing an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Archer Aviation by 158.3% during the 4th 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 in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $42,709,000. Finally, Nuveen Asset Management LLC boosted its position in Archer Aviation by 455.3% during the fourth quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock worth $31,605,000 after acquiring an additional 2,657,726 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ACHR shares. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective (up previously from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Finally, UBS Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.13.

Archer Aviation Price Performance

ACHR traded down $0.12 during midday trading on Friday, hitting $13.28. The company had a trading volume of 54,910,910 shares, compared to its average volume of 28,157,333. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The company has a market capitalization of $7.29 billion, a PE ratio of -10.14 and a beta of 3.10. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The firm's 50-day simple moving average is $10.74 and its 200-day simple moving average is $9.28.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data 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. Equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 40,186 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $522,016.14. Following the sale, the insider directly owned 256,799 shares in the company, valued at $3,335,819.01. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 13,210 shares of the business'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 owned 134,104 shares in the company, valued at approximately $1,742,010.96. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,960 shares of company stock valued at $4,441,519 over the last ninety days. Insiders own 7.65% of the company's stock.

Archer Aviation Company 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.