Two Sigma Investments LP Grows Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Two Sigma Investments LP raised its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 3,166.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,012,983 shares of the company's stock after purchasing an additional 2,920,752 shares during the quarter. Two Sigma Investments LP owned 0.71% of Archer Aviation worth $29,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $1,068,000. Aspiring Ventures LLC purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $133,000. PFG Investments LLC increased its position in shares of Archer Aviation by 16.3% during the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company's stock valued at $223,000 after acquiring an additional 3,192 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $160,000. Finally, Spire Wealth Management increased its position in shares of Archer Aviation by 266.7% during the fourth quarter. Spire Wealth Management now owns 16,500 shares of the company's stock valued at $161,000 after acquiring an additional 12,000 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 705,844 shares of company stock valued at $6,583,103. Company insiders own 7.65% of the company's stock.

Archer Aviation Price Performance

NYSE:ACHR traded down $0.01 during trading hours on Friday, hitting $10.59. 20,008,645 shares of the company's stock traded hands, compared to its average volume of 23,192,031. The firm has a market cap of $5.81 billion, a P/E ratio of -8.02 and a beta of 3.13. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The business's fifty day simple moving average is $8.47 and its two-hundred day simple moving average is $8.37. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACHR has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price target on shares of Archer Aviation in a research report on Friday, May 16th. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James increased their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. One equities research 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.50.

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.