ProShare Advisors LLC Purchases 41,913 Shares of Archer Aviation Inc. $ACHR

Key Points

• ProShare Advisors LLC increased its stake in Archer Aviation (NYSE:ACHR) by 60%, buying 41,913 shares to hold 111,826 shares valued at about $1.213 million per its latest SEC filing.
• Archer stock opened at $7.88, trades in a 52‑week range of $4.05–$14.62, and the company has a market cap of $5.13 billion with a negative P/E (‑6.25) and very high current/quick ratios (18.19).
• Archer reported Q EPS of ($0.20) in line with estimates; analysts have recently trimmed targets but the consensus is a "Moderate Buy" with an average price target of $12.57 (seven Buys, one Hold, one Sell).

ProShare Advisors LLC grew its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 60.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 111,826 shares of the company's stock after buying an additional 41,913 shares during the period. ProShare Advisors LLC's holdings in Archer Aviation were worth $1,213,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC raised its holdings in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after purchasing an additional 2,024 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock worth $38,000 after purchasing an additional 1,106 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 1,664 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Archer Aviation during the first quarter valued at $27,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Down 1.0%

Archer Aviation stock opened at $7.88 on Monday. Archer Aviation Inc. has a 52-week low of $4.05 and a 52-week high of $14.62. The company has a market cap of $5.13 billion, a P/E ratio of -6.25 and a beta of 3.07. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $10.27 and a two-hundred day simple moving average of $10.25.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). Analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ACHR shares. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, November 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, November 7th. Cantor Fitzgerald set a $13.00 price objective on shares of Archer Aviation in a report on Monday, November 10th. Finally, Needham & Company LLC lowered their price objective on shares of Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average target price of $12.57.

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.

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