Yarbrough Capital LLC Acquires 229,545 Shares of Archer Aviation Inc. $ACHR

Key Points

• Yarbrough Capital LLC increased its stake in Archer Aviation by 96.8%, acquiring an additional 229,545 shares, bringing its total holdings to 466,798 shares valued at approximately $5.07 million.
• Archer Aviation recently reported an EPS of ($0.36) for the last quarter, falling short of analysts' predictions, while research analysts have set a consensus price target of $13.43 for the stock.
• Insider transactions revealed significant sales, including 10,224 shares sold by CFO Priya Gupta and 86,133 shares sold by CTO Thomas Paul Muniz, both at around $9.83 per share.

Yarbrough Capital LLC grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 96.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 466,798 shares of the company's stock after acquiring an additional 229,545 shares during the period. Yarbrough Capital LLC owned about 0.09% of Archer Aviation worth $5,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP raised its position in Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $27,000. Strs Ohio bought a new position in shares of Archer Aviation during the first quarter worth about $27,000. Tidemark LLC lifted its stake in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Archer Aviation in the first quarter valued at approximately $31,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $10.01 on Wednesday. The firm has a market capitalization of $6.45 billion, a P/E ratio of -7.41 and a beta of 3.07. The firm's 50-day moving average price is $9.81 and its 200-day moving average price is $9.39. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its 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). Equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock valued at $2,865,206 over the last ninety days. Company insiders own 7.65% of the company's stock.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.