Nuveen LLC Invests $22.42 Million in Archer Aviation Inc. $ACHR

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Nuveen LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,153,742 shares of the company's stock, valued at approximately $22,423,000. Nuveen LLC owned approximately 0.58% of Archer Aviation as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Virtu Financial LLC grew its holdings in shares of Archer Aviation by 704.2% during the first quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after buying an additional 314,844 shares during the last quarter. Swiss National Bank raised its holdings in Archer Aviation by 42.4% in the 1st quarter. Swiss National Bank now owns 728,900 shares of the company's stock valued at $5,182,000 after acquiring an additional 217,200 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Archer Aviation by 23.9% during the 1st quarter. Deutsche Bank AG now owns 258,261 shares of the company's stock worth $1,836,000 after buying an additional 49,762 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Archer Aviation by 36.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company's stock valued at $22,080,000 after purchasing an additional 827,893 shares during the last quarter. Finally, Tidemark LLC boosted its position in Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after buying an additional 2,000 shares during the period. Institutional investors own 59.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on ACHR shares. JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded up $0.0810 during trading hours on Thursday, reaching $9.3110. The company's stock had a trading volume of 12,448,715 shares, compared to its average volume of 32,906,477. The company's 50 day simple moving average is $10.47 and its 200 day simple moving average is $9.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The stock has a market cap of $5.11 billion, a P/E ratio of -6.89 and a beta of 3.08.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the sale, the chief technology officer directly owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer directly owned 147,153 shares of the company's stock, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is owned by company insiders.

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.