Private Advisor Group LLC Raises Position 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 filing with the SEC. The firm owned 272,072 shares of the company's stock after buying an additional 220,696 shares during the quarter. Private Advisor Group LLC owned about 0.05% of Archer Aviation worth $1,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in shares of Archer Aviation by 26.2% during the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock worth $2,354,000 after acquiring an additional 50,104 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Archer Aviation by 64.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock valued at $581,000 after buying an additional 31,933 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Archer Aviation during the 1st quarter valued at approximately $391,000. GF Fund Management CO. LTD. bought a new position in shares of Archer Aviation in the 1st quarter worth about $369,000. Finally, Vanguard Group Inc. lifted its position in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after buying an additional 2,908,859 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 50,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.47, for a total value of $423,500.00. Following the transaction, the insider directly owned 212,673 shares of the company's stock, valued at $1,801,340.31. The trade was a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Eric Lentell sold 95,896 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,960 shares of company stock worth $4,441,519. 7.65% of the stock is owned by company insiders.

Archer Aviation Stock Up 2.0%

Shares of NYSE:ACHR traded up $0.23 during mid-day trading on Friday, reaching $11.22. 31,790,155 shares of the stock were exchanged, compared to its average volume of 42,526,448. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $10.76 and its 200-day simple moving average is $9.30. The company has a market cap of $6.16 billion, a P/E ratio of -8.56 and a beta of 3.10. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.13.

Archer Aviation 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.