Y Intercept Hong Kong Ltd Makes New $2.39 Million Investment in Archer Aviation Inc. $ACHR

Key Points

• Y Intercept Hong Kong Ltd invested $2.39 million in Archer Aviation Inc., purchasing 220,141 shares in the second quarter, indicating confidence in the company's growth potential.
• Institutional investors now hold over 59% of Archer Aviation's stock, showcasing strong interest and confidence from large financial institutions in the company's outlook.
• Archer Aviation reported a loss of ($0.36) EPS, which was below analysts' expectations, projected to have an EPS of -1.32 for the current year, indicating ongoing challenges.

Y Intercept Hong Kong Ltd bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 220,141 shares of the company's stock, valued at approximately $2,389,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased 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 worth $38,000 after purchasing an additional 1,106 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Archer Aviation by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after acquiring an additional 1,211 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Archer Aviation by 8.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after acquiring an additional 1,358 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock valued at $98,000 after acquiring an additional 1,373 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Archer Aviation by 13.6% in the 1st quarter. CWM LLC now owns 12,133 shares of the company's stock valued at $86,000 after acquiring an additional 1,451 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Down 1.9%

Archer Aviation stock opened at $10.97 on Friday. Archer Aviation Inc. has a 52 week low of $3.08 and a 52 week high of $14.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The stock has a market capitalization of $7.08 billion, a P/E ratio of -8.13 and a beta of 3.06. The stock has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $10.11.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACHR shares. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC restated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Monday. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.43.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $481,040.88. Following the transaction, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. The trade was a 50.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 188,068 shares of company stock worth $1,848,708. Company insiders own 7.65% of the company's stock.

About Archer Aviation

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.

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