25,000 Shares in Archer Aviation Inc. (NYSE:ACHR) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,000 shares of the company's stock, valued at approximately $178,000.

A number of other large investors also recently made changes to their positions in ACHR. US Bancorp DE raised its position in shares of Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock valued at $44,000 after purchasing an additional 4,306 shares during the period. Jones Financial Companies Lllp boosted its position in Archer Aviation by 31.4% during the 4th quarter. Jones Financial Companies Lllp now owns 18,016 shares of the company's stock valued at $176,000 after buying an additional 4,305 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after buying an additional 446,864 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Archer Aviation by 28.5% during the fourth quarter. Victory Capital Management Inc. now owns 35,862 shares of the company's stock valued at $350,000 after purchasing an additional 7,951 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Archer Aviation by 31.3% in the fourth quarter. Arizona State Retirement System now owns 75,513 shares of the company's stock worth $736,000 after buying an additional 17,999 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Mark Mesler sold 50,775 shares of the 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 $659,567.25. Following the completion of the transaction, the chief financial officer directly owned 711,525 shares of the company's stock, valued at $9,242,709.75. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 95,896 shares of the 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 disclosure for this sale can be found here. Insiders sold 376,960 shares of company stock valued at $4,441,519 over the last quarter. 7.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Archer Aviation Trading Up 2.0%

Shares of NYSE ACHR traded up $0.21 during mid-day trading on Thursday, reaching $10.66. The company had a trading volume of 11,565,876 shares, compared to its average volume of 26,931,561. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The business's 50-day moving average is $10.32 and its 200-day moving average is $9.22. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -8.16 and a beta of 3.10. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07.

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 analysts' consensus estimates of ($0.21) by $0.04. Equities analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.