TD Waterhouse Canada Inc. Has $917,000 Stake in Archer Aviation Inc. $ACHR

Key Points

• TD Waterhouse Canada boosted its stake in Archer Aviation by 307% in Q4 and now holds 121,971 shares worth about $917,000 per its SEC filing.
• Archer missed quarterly estimates with EPS of ($0.26) vs. ($0.17) expected and revenue of $0.30M vs. $1.40M expected, yet analysts maintain a consensus "Moderate Buy" with a $12 target (5 Buy, 2 Hold, 1 Sell).
• Insiders have been net sellers, disposing of 255,750 shares valued at about $1.645M over the last 90 days; insiders now own ~7.65% of the stock while institutions hold ~59.34%.

TD Waterhouse Canada Inc. increased its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 307.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,971 shares of the company's stock after buying an additional 92,005 shares during the period. TD Waterhouse Canada Inc.'s holdings in Archer Aviation were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio acquired a new position in Archer Aviation during the first quarter worth $27,000. Johnson Investment Counsel Inc. acquired a new position in Archer Aviation during the third quarter worth $29,000. Bank of Jackson Hole Trust increased its holdings in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock worth $30,000 after buying an additional 986 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in Archer Aviation by 138.8% during the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company's stock worth $34,000 after buying an additional 2,040 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock worth $36,000 after buying an additional 1,702 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Down 1.3%

ACHR stock opened at $5.70 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The company has a fifty day moving average price of $6.11 and a two-hundred day moving average price of $7.87. Archer Aviation Inc. has a one year low of $4.80 and a one year high of $14.62. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -5.75 and a beta of 3.24.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analysts' expectations of $1.40 million. Archer Aviation's revenue was up 29900.0% compared to the same quarter last year. Equities analysts anticipate that Archer Aviation Inc. will post -1.51 EPS for the current year.

Insider Activity

In other Archer Aviation news, CAO Harsh Rungta sold 22,826 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the transaction, the chief accounting officer directly owned 65,458 shares of the company's stock, valued at $422,858.68. The trade was a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 54,786 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the transaction, the insider directly owned 377,022 shares of the company's stock, valued at approximately $2,435,562.12. This trade represents a 12.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 255,750 shares of company stock valued at $1,645,333. 7.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a report on Monday. Needham & Company LLC lowered their target price on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

About Archer Aviation

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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