Intech Investment Management LLC Takes $206,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Intech Investment Management LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 67,832 shares of the company's stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the third quarter worth about $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management grew its position in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after acquiring an additional 3,000 shares during the period. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACHR. Benchmark reissued a "buy" rating and set 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 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.33.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company's stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Eric Lentell sold 114,788 shares of Archer Aviation stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total transaction of $773,671.12. The disclosure for this sale can be found here. Insiders have sold 1,069,958 shares of company stock valued at $5,461,608 in the last quarter. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 8.1 %

Shares of ACHR stock traded up $0.62 during trading on Friday, reaching $8.28. The company's stock had a trading volume of 43,482,030 shares, compared to its average volume of 42,323,148. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -6.27 and a beta of 3.19. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $9.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock's 50-day moving average price is $4.42 and its 200 day moving average price is $3.94.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period last year, the firm earned ($0.19) earnings per share. On average, research analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current 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.