Perbak Capital Partners LLP Purchases Shares of 42,336 Archer Aviation Inc. $ACHR

Key Points

• Perbak Capital Partners LLP bought 42,336 shares of Archer Aviation, valued at approximately $301,000, as per its latest SEC filing.
• Archer Aviation reported an earnings loss of ($0.36) EPS, missing analysts' estimates, and is projected to post -1.32 EPS for the current fiscal year.
• Insider selling has occurred recently, with two insiders selling a combined total of 53,000 shares, indicating potential shifts in company ownership dynamics.

Perbak Capital Partners LLP purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 42,336 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allworth Financial LP boosted its stake in Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $27,000. Tidemark LLC raised its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Archer Aviation during the 1st quarter valued at approximately $31,000. Finally, ORG Partners LLC purchased a new position in shares of Archer Aviation in the first quarter valued at $32,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Price Performance

Shares of ACHR stock opened at $8.61 on Wednesday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $9.37. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -6.37 and a beta of 3.07.

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

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 42,775 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider directly owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the sale, the chief financial officer owned 147,153 shares of the company's stock, valued at $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. In the last three months, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

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.

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