Private Advisor Group LLC Increases Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Private Advisor Group LLC raised its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 429.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 272,072 shares of the company's stock after purchasing an additional 220,696 shares during the period. Private Advisor Group LLC owned about 0.05% of Archer Aviation worth $1,934,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after purchasing an additional 50,104 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Archer Aviation by 47.6% during the first quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock valued at $712,000 after acquiring an additional 32,300 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Archer Aviation by 64.2% during the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock valued at $581,000 after acquiring an additional 31,933 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Archer Aviation during the first quarter valued at $391,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Archer Aviation during the first quarter valued at $369,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

ACHR has been the topic of a number of analyst reports. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price target (up from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.13.

Archer Aviation Trading Down 2.0%

Shares of Archer Aviation stock traded down $0.23 during trading hours on Monday, reaching $10.99. The stock had a trading volume of 9,244,658 shares, compared to its average volume of 33,220,043. The firm has a 50 day simple moving average of $10.72 and a two-hundred day simple moving average of $9.29. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -8.39 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 Inc. has a 1 year low of $2.82 and a 1 year high of $13.92.

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

Insider Buying and Selling

In related news, CFO Priya Gupta sold 13,210 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the sale, the chief financial officer directly owned 134,104 shares in the company, valued at approximately $1,742,010.96. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tosha Perkins sold 50,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.47, for a total value of $423,500.00. Following the sale, the insider owned 212,673 shares in the company, valued at approximately $1,801,340.31. The trade was a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,960 shares of company stock worth $4,441,519. Corporate insiders own 7.65% of the company's stock.

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.