Hudson Bay Capital Management LP Grows Holdings in Archer Aviation Inc. (NYSE:ACHR)

Hudson Bay Capital Management LP increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,602,510 shares of the company's stock after acquiring an additional 567,059 shares during the quarter. Hudson Bay Capital Management LP owned about 0.61% of Archer Aviation worth $25,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACHR. Conquis Financial LLC acquired a new position in shares of Archer Aviation in the 4th quarter valued at $29,000. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. Harbour Investments Inc. increased its stake 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. Anchor Investment Management LLC raised 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 buying an additional 1,224 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after buying an additional 2,975 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Shares of Archer Aviation stock traded up $0.14 during trading on Wednesday, hitting $11.30. 17,913,092 shares of the company were exchanged, compared to its average volume of 21,995,850. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of -8.59 and a beta of 3.13. The firm has a 50 day moving average price of $7.84 and a 200 day moving average price of $7.95. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insiders Place Their Bets

In other news, General Counsel Eric Lentell sold 43,230 shares of the firm'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 $332,871.00. Following the transaction, the general counsel now owns 53,225 shares of the company's stock, valued at approximately $409,832.50. This trade represents a 44.82% decrease in their position. The sale 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 sale, the insider now directly owns 212,673 shares of the company's stock, valued at approximately $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 have sold a total of 474,780 shares of company stock valued at $3,581,581 over the last quarter. Company insiders own 9.75% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted 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. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research note on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average target price of $11.61.

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.