SG Americas Securities LLC Has $290,000 Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

SG Americas Securities LLC reduced its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 62.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,825 shares of the company's stock after selling 68,699 shares during the period. SG Americas Securities LLC's holdings in Archer Aviation were worth $290,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its position in shares of Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after acquiring an additional 1,000 shares in the last quarter. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the period. Anchor Investment Management LLC increased its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares during the period. Finally, Xponance Inc. raised its stake in shares of Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after purchasing an additional 1,299 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $10.56 on Friday. The stock has a 50 day moving average price of $9.92 and a 200 day moving average price of $9.11. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The stock has a market capitalization of $5.80 billion, a PE ratio of -8.06 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.04. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 13,210 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $171,597.90. Following the transaction, the chief financial officer now owns 134,104 shares of the company's stock, valued at $1,742,010.96. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 80,919 shares of the firm's 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 $1,051,137.81. Following the completion of the sale, the chief technology officer now directly owns 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by corporate insiders.

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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