Legal & General Group Plc grew its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 342,650 shares of the company's stock after purchasing an additional 52,509 shares during the quarter. Legal & General Group Plc owned approximately 0.08% of Archer Aviation worth $3,341,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in ACHR. ARK Investment Management LLC lifted its position in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the period. Vanguard Group Inc. increased its position in Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $15,912,000. Headlands Technologies LLC purchased a new stake in Archer Aviation in the 4th quarter worth approximately $11,025,000. Finally, Raymond James Financial Inc. acquired a new position in Archer Aviation in the 4th quarter valued at $7,249,000. Institutional investors and hedge funds own 59.34% of the company's stock.
Archer Aviation Stock Up 0.4 %
Shares of NYSE:ACHR traded up $0.03 during trading on Friday, hitting $8.59. The company's stock had a trading volume of 20,074,064 shares, compared to its average volume of 20,861,915. The company has a market capitalization of $4.66 billion, a PE ratio of -6.51 and a beta of 3.16. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock's 50-day moving average price is $7.73 and its two-hundred day moving average price is $7.44.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data 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. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ACHR. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.61.
Get Our Latest Stock Report on ACHR
Insider Buying and Selling
In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares of the company's stock, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,780 shares of company stock worth $3,158,081 over the last ninety days. 9.75% of the stock is owned by insiders.
Archer Aviation Company Profile
(
Free Report)
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.
Further Reading
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
