Nisa Investment Advisors LLC Has $394,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Nisa Investment Advisors LLC grew its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 948.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,346 shares of the company's stock after purchasing an additional 50,065 shares during the quarter. Nisa Investment Advisors LLC's holdings in Archer Aviation were worth $394,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth about $42,709,000. Alyeska Investment Group L.P. increased its stake in shares of Archer Aviation by 158.3% during the fourth 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 during the period. Two Sigma Investments LP increased its stake in shares of Archer Aviation by 3,166.8% during the fourth quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company's stock worth $29,377,000 after purchasing an additional 2,920,752 shares during the period. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 21.4% during the fourth 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 during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of 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 purchasing an additional 2,657,726 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

Insiders Place Their Bets

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 40,186 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was 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 of the company's stock, valued at $3,335,819.01. This represents a 13.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,960 shares of company stock worth $4,441,519 over the last three months. Insiders own 7.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHR. HC Wainwright restated a "buy" rating and set a $18.00 price objective (up previously from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Monday, June 23rd. Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Finally, Canaccord Genuity Group cut their price objective on Archer Aviation from $13.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, June 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.13.

Archer Aviation Stock Performance

ACHR stock opened at $12.10 on Thursday. The stock has a 50-day moving average price of $10.56 and a 200-day moving average price of $9.24. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.64 billion, a PE ratio of -9.24 and a beta of 3.10.

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

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.

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