Wellington Management Group LLP Purchases 90,812 Shares of Archer Aviation Inc. $ACHR

Key Points

• Wellington Management Group LLP increased its stake in Archer Aviation by 5.6% in Q1, owning approximately 1.72 million shares valued at $12.25 million.
• A notable decrease in insider ownership occurred as CFO Priya Gupta and another insider sold a combined 53,000 shares recently, indicating potential sell-off among company insiders.
• Archer Aviation's stock recently traded at $9.21, with analysts maintaining a generally favorable outlook, giving it a "Moderate Buy" rating and an average price target of $13.43.

Wellington Management Group LLP increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,722,771 shares of the company's stock after purchasing an additional 90,812 shares during the period. Wellington Management Group LLP owned 0.32% of Archer Aviation worth $12,249,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its holdings in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after acquiring an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Archer Aviation during the 4th quarter worth $27,000. Tidemark LLC boosted its position in Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Archer Aviation during the first quarter valued at about $31,000. Finally, ORG Partners LLC acquired a new stake in shares of Archer Aviation during the first quarter valued at about $32,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Down 2.6%

NYSE:ACHR traded down $0.24 during trading hours on Friday, hitting $8.97. The stock had a trading volume of 21,348,891 shares, compared to its average volume of 28,320,262. The business's 50 day moving average is $10.32 and its 200-day moving average is $9.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The company has a market cap of $5.78 billion, a price-to-earnings ratio of -6.64 and a beta of 3.08.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the sale, the insider directly owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 95,896 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock valued at $2,865,206 in the last three months. 7.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACHR shares. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Company 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.