Voya Investment Management LLC Grows Stake in Archer Aviation Inc. $ACHR

Key Points

• Voya Investment Management LLC increased its stake in Archer Aviation (NYSE:ACHR) by 180.0% in Q3, adding 268,955 shares to hold 418,366 shares worth about $4.01 million, or roughly 0.06% of the company.
• Insiders sold shares recently—CFO Priya Gupta and Tosha Perkins sold stock on Nov. 17—and insiders disposed of 182,635 shares (~$1.37 million) over the last three months; insiders now own 7.65% of the company.
• Analysts are mixed but mildly positive with a consensus "Moderate Buy" and an average price target of $12.14; ACHR opened at about $8.13 with a market cap near $5.3 billion and a negative PE, signaling continued volatility.

Voya Investment Management LLC lifted its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 180.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,366 shares of the company's stock after buying an additional 268,955 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Archer Aviation worth $4,008,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Strs Ohio acquired a new position in Archer Aviation during the 1st quarter worth approximately $27,000. AlphaQuest LLC lifted its position in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after purchasing an additional 2,375 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock valued at $32,000 after purchasing an additional 2,024 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock valued at $36,000 after purchasing an additional 1,702 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after purchasing an additional 1,106 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Stock Performance

Shares of ACHR opened at $8.13 on Friday. The stock has a market capitalization of $5.30 billion, a PE ratio of -6.45 and a beta of 3.10. The business's fifty day moving average price is $8.84 and its 200 day moving average price is $9.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued 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). Equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the transaction, the chief financial officer directly owned 161,523 shares in the company, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tosha Perkins sold 45,018 shares of the firm's stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 182,635 shares of company stock worth $1,367,936. Insiders own 7.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ACHR. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Monday, November 24th. The Goldman Sachs Group assumed coverage on Archer Aviation in a research report on Monday, December 1st. They set a "neutral" rating and a $11.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, November 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Finally, Needham & Company LLC dropped their price objective on Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.14.

Archer Aviation Company Profile

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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