Granahan Investment Management LLC Makes New $20.71 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

Granahan Investment Management LLC bought a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,124,164 shares of the company's stock, valued at approximately $20,711,000. Granahan Investment Management LLC owned about 0.50% of Archer Aviation at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its position in Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after purchasing an additional 1,000 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after acquiring an additional 1,299 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Performance

Shares of ACHR stock traded up $0.45 on Wednesday, hitting $11.61. 32,161,739 shares of the stock were exchanged, compared to its average volume of 22,049,006. The firm's 50 day moving average is $7.84 and its two-hundred day moving average is $7.95. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The firm has a market capitalization of $6.30 billion, a PE ratio of -8.80 and a beta of 3.13. 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 issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the sale, the general counsel now owns 45,416 shares of the company's stock, valued at $319,728.64. This trade represents a 52.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tosha Perkins sold 50,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was 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 trade represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 474,780 shares of company stock valued at $3,581,581 over the last three months. Company insiders own 9.75% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James boosted 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. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Tuesday. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.