UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 215,593 Shares of Archer Aviation Inc. (NYSE:ACHR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 62.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 558,603 shares of the company's stock after purchasing an additional 215,593 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Archer Aviation worth $5,446,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management increased its stake in Archer Aviation by 266.7% in the 4th quarter. Spire Wealth Management now owns 16,500 shares of the company's stock worth $161,000 after acquiring an additional 12,000 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. Sargent Investment Group LLC increased its position in Archer Aviation by 21.0% in the fourth quarter. Sargent Investment Group LLC now owns 288,030 shares of the company's stock worth $2,808,000 after purchasing an additional 49,900 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $296,000. Finally, Entropy Technologies LP bought a new position in Archer Aviation during the fourth quarter valued at $371,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Trading Up 4.4%

Shares of NYSE:ACHR traded up $0.41 on Friday, hitting $9.77. 6,531,662 shares of the company's stock were exchanged, compared to its average volume of 23,806,887. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -7.39 and a beta of 3.13. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business's 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $8.75.

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

Analyst Upgrades and Downgrades

ACHR has been the topic of several recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Friday, May 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Insider Activity

In other news, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 52,958 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $372,824.32. Following the completion of the sale, the chief technology officer now owns 1,173,905 shares of the company's stock, valued at $8,264,291.20. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is currently owned by company insiders.

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.