HBK Investments L P Acquires Shares of 2,250,000 Archer Aviation Inc. (NYSE:ACHR)

HBK Investments L P acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,250,000 shares of the company's stock, valued at approximately $6,818,000. HBK Investments L P owned approximately 0.63% of Archer Aviation at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ACHR. Cetera Advisors LLC purchased a new stake in Archer Aviation in the 1st quarter worth approximately $80,000. CWM LLC increased its stake in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Archer Aviation by 23.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Archer Aviation by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company's stock worth $321,000 after purchasing an additional 5,611 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Archer Aviation in the 1st quarter worth $49,000. Institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ACHR. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $9.33.

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz purchased 5,150 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the acquisition, the director now directly owns 98,886 shares of the company's stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adam D. Goldstein purchased 19,762 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the acquisition, the chief executive officer now owns 2,014,890 shares of the company's stock, valued at $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 18.4 %

ACHR traded up $1.49 on Friday, reaching $9.57. The company's stock had a trading volume of 60,416,043 shares, compared to its average volume of 9,984,868. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -7.27 and a beta of 2.29. The business's 50 day moving average is $3.85 and its 200 day moving average is $3.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $9.84.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts forecast that Archer Aviation Inc. will post -1.29 EPS for the current fiscal year.

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.