FORA Capital LLC Invests $449,000 in Archer Aviation Inc. (NYSE:ACHR)

FORA Capital LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 46,007 shares of the company's stock, valued at approximately $449,000.

Several other institutional investors have also recently made changes to their positions in ACHR. Conquis Financial LLC purchased a new stake in Archer Aviation in the fourth quarter valued at approximately $29,000. Harbour Investments Inc. raised its position in 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 purchasing an additional 1,095 shares during the period. Oarsman Capital Inc. raised its position in 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 purchasing an additional 2,547 shares during the period. Anchor Investment Management LLC raised its position in 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 purchasing an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Up 3.0%

ACHR stock traded up $0.27 during trading on Monday, hitting $9.08. 31,696,084 shares of the company's stock were exchanged, compared to its average volume of 21,657,018. The business has a 50-day moving average price of $7.74 and a two-hundred day moving average price of $7.89. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of -6.88 and a beta of 3.13. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.04. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tosha Perkins sold 50,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $8.47, for a total transaction of $423,500.00. Following the completion of the transaction, the insider now owns 212,673 shares of the company's stock, valued at $1,801,340.31. This represents a 19.04% 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 over the last 90 days. 9.75% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ACHR. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, April 21st. Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group upped their price objective 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 assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.61.

Archer Aviation 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.