Wellington Management Group LLP Makes New $15.91 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

Wellington Management Group LLP purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,631,959 shares of the company's stock, valued at approximately $15,912,000. Wellington Management Group LLP owned approximately 0.30% of Archer Aviation as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Archer Aviation in the fourth quarter valued at $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation in the fourth quarter valued at $29,000. Harbour Investments Inc. raised its holdings in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Oarsman Capital Inc. raised its holdings in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after buying an additional 1,224 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Activity

In other news, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction that occurred 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 owns 262,673 shares of the company's stock, valued at $1,849,217.92. This trade represents a 11.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Thomas Paul Muniz sold 80,919 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the transaction, the chief technology officer now owns 1,253,294 shares in the company, valued at approximately $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 451,859 shares of company stock worth $4,627,418 over the last ninety days. Insiders own 7.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACHR shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. 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. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and an average price target of $12.50.

Archer Aviation Price Performance

Shares of ACHR stock traded up $0.09 during mid-day trading on Thursday, reaching $9.73. The company's stock had a trading volume of 9,080,250 shares, compared to its average volume of 23,740,266. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a market cap of $5.34 billion, a P/E ratio of -7.33 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm's 50-day moving average is $8.79 and its two-hundred day moving average is $8.72.

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 the consensus estimate of ($0.21) by $0.04. On average, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.