FORA Capital LLC Buys New Holdings in Archer Aviation Inc. (NYSE:ACHR)

FORA Capital LLC acquired a new stake 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 institutional investor acquired 46,007 shares of the company's stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ACHR. Charles Schwab Investment Management Inc. lifted its stake in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after acquiring an additional 446,864 shares in the last quarter. Private Advisor Group LLC lifted its stake in Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after acquiring an additional 36,840 shares in the last quarter. ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Yarbrough Capital LLC purchased a new stake in Archer Aviation in the 4th quarter worth about $6,039,000. Finally, Barclays PLC lifted its stake in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after acquiring an additional 312,440 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Archer Aviation

In related news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. The trade was a 17.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock worth $3,581,581 in the last 90 days. 9.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Tuesday. Raymond James upped their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Tuesday. Finally, Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

Archer Aviation Stock Up 2.2%

Shares of NYSE ACHR traded up $0.24 during mid-day trading on Wednesday, reaching $11.40. 26,742,108 shares of the company traded hands, compared to its average volume of 22,025,926. 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 stock has a market cap of $6.18 billion, a PE ratio of -8.64 and a beta of 3.13. The company's fifty day moving average is $7.84 and its two-hundred day moving average is $7.95. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.