WINTON GROUP Ltd Invests $1.61 Million in Archer Aviation Inc. $ACHR

Key Points

• WINTON GROUP Ltd initiated a new position in Archer Aviation, buying 214,113 shares valued at about $1.61 million in the fourth quarter.
• Institutional ownership remains high, with several other funds adding to or starting positions in ACHR; hedge funds and other institutional investors now own 59.34% of the stock.
• Archer Aviation reported a quarterly EPS miss and revenue slightly below expectations, while analysts remain mixed but generally constructive, with an average rating of Moderate Buy and a price target of $11.83.

WINTON GROUP Ltd acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 214,113 shares of the company's stock, valued at approximately $1,610,000.

Several other institutional investors and hedge funds have also made changes to their positions in ACHR. AQR Capital Management LLC purchased a new position in shares of Archer Aviation in the first quarter valued at $293,000. Integrated Wealth Concepts LLC boosted its stake in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock valued at $98,000 after purchasing an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Archer Aviation by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company's stock valued at $1,366,000 after purchasing an additional 59,317 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after purchasing an additional 1,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company's stock valued at $6,001,000 after purchasing an additional 285,414 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 91,839 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 10,949 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $68,650.23. Following the transaction, the insider owned 384,768 shares in the company, valued at $2,412,495.36. This trade represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 282,840 shares of company stock worth $1,703,688 over the last ninety days. Insiders own 7.65% of the company's stock.

Archer Aviation Trading Up 3.4%

NYSE ACHR opened at $5.73 on Tuesday. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -5.21 and a beta of 3.14. The company's fifty day moving average price is $5.97 and its two-hundred day moving average price is $6.95.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analysts' expectations of $1.66 million. During the same quarter last year, the business earned ($0.17) EPS. As a group, research analysts predict that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Archer Aviation from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Canaccord Genuity Group decreased their target price on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.83.

Archer Aviation 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.

Want to see what other hedge funds are holding ACHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Aviation Inc. (NYSE:ACHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.