Swiss National Bank Has $5.18 Million Stake in Archer Aviation Inc. $ACHR

Key Points

• Swiss National Bank has increased its stake in Archer Aviation Inc. by 42.4%, now owning approximately 0.13% of the company with a total value of $5.18 million.
• Archer Aviation's stock has seen a decrease of 5.6%, trading at $9.295 as of the last session, with a significant trading volume of over 28 million shares.
• Equities analysts have a consensus rating of "Moderate Buy" for Archer Aviation, with an average price target of $13.43, highlighting optimism for the company's future performance.

Swiss National Bank increased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 42.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,900 shares of the company's stock after acquiring an additional 217,200 shares during the period. Swiss National Bank owned approximately 0.13% of Archer Aviation worth $5,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation in the fourth quarter valued at approximately $27,000. Allworth Financial LP boosted its holdings in Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after buying an additional 1,664 shares in the last quarter. Tidemark LLC boosted its holdings in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after buying an additional 2,000 shares in the last quarter. Comerica Bank boosted its holdings in Archer Aviation by 113.2% during the fourth quarter. Comerica Bank now owns 4,076 shares of the company's stock worth $40,000 after buying an additional 2,164 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in Archer Aviation during the first quarter worth approximately $32,000. 59.34% of the stock is currently owned by institutional investors.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares of the company's stock, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 283,964 shares of company stock worth $2,865,206 in the last quarter. 7.65% of the stock is owned by corporate insiders.

Archer Aviation Stock Up 0.9%

ACHR stock traded up $0.0840 during midday trading on Thursday, reaching $9.3140. The company had a trading volume of 12,448,715 shares, compared to its average volume of 32,906,477. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.11 billion, a P/E ratio of -6.89 and a beta of 3.08. The company has a 50 day moving average of $10.47 and a two-hundred day moving average of $9.39.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). On average, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ACHR shares. HC Wainwright restated 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 restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

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.