Swiss National Bank Boosts Stock Position in Archer Aviation Inc. $ACHR

Key Points

• Swiss National Bank increased its stake in Archer Aviation by 42.7% in Q2, buying 311,000 shares to hold 1,039,900 shares (about 0.19% of the company) valued at $11.283 million.
• Company insiders sold a total of 182,635 shares in the last quarter (including CTO Thomas Paul Muniz and Tosha Perkins), totaling roughly $1.37 million and leaving insiders with 7.65% ownership.
• Wall Street consensus is a "Moderate Buy" (7 Buys, 1 Hold, 1 Sell) with an average target of $12.71; ACHR trades around $7.83 with a market cap of $5.1 billion and a 52-week range of $5.48–$14.62.

Swiss National Bank raised its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 42.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,900 shares of the company's stock after purchasing an additional 311,000 shares during the period. Swiss National Bank owned about 0.19% of Archer Aviation worth $11,283,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after acquiring an additional 1,106 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Archer Aviation by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock worth $1,837,000 after purchasing an additional 1,211 shares during the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of Archer Aviation by 23.7% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company's stock valued at $72,000 after purchasing an additional 1,269 shares in the last quarter. Purus Wealth Management LLC lifted its position in shares of Archer Aviation by 9.9% during the second quarter. Purus Wealth Management LLC now owns 14,865 shares of the company's stock worth $161,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock worth $98,000 after purchasing an additional 1,373 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 21st. JPMorgan Chase & Co. lowered their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, November 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $12.71.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $678,953.52. Following the transaction, the chief technology officer owned 1,397,129 shares in the company, valued at approximately $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider directly owned 334,632 shares in the company, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 in the last quarter. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Performance

ACHR stock opened at $7.83 on Friday. The company has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $10.13. The company has a market capitalization of $5.10 billion, a P/E ratio of -6.21 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. Archer Aviation Inc. has a fifty-two week low of $5.48 and a fifty-two week high of $14.62.

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

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.

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