Nuveen Asset Management LLC Buys 2,657,726 Shares of Archer Aviation Inc. (NYSE:ACHR)

Nuveen Asset Management LLC lifted its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 455.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,241,496 shares of the company's stock after acquiring an additional 2,657,726 shares during the quarter. Nuveen Asset Management LLC owned 0.76% of Archer Aviation worth $31,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the fourth quarter worth $29,000. Oarsman Capital Inc. grew its holdings in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares during the period. Harbour Investments Inc. grew its holdings in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after acquiring an additional 1,095 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Performance

Shares of ACHR opened at $10.83 on Thursday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $8.27. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -8.20 and a beta of 3.13. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92.

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

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 13,210 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $171,597.90. Following the sale, the chief financial officer now owns 134,104 shares of the company's stock, valued at $1,742,010.96. This represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 705,844 shares of company stock valued at $6,583,103 over the last three months. Corporate insiders own 7.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ACHR. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. HC Wainwright reaffirmed 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 upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James upped their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a report on Friday, May 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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