Mariner LLC Has $626,000 Stake in Archer Aviation Inc. (NYSE:ACHR)

Mariner LLC lifted its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 140.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,236 shares of the company's stock after acquiring an additional 37,531 shares during the quarter. Mariner LLC's holdings in Archer Aviation were worth $626,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ACHR. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. grew its holdings 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 acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. increased its position in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake 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 worth $33,000 after acquiring an additional 2,975 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock worth $44,000 after purchasing an additional 4,306 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Down 7.3 %

Archer Aviation stock opened at $8.33 on Thursday. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -6.31 and a beta of 3.16. The company's 50 day simple moving average is $7.66 and its 200 day simple moving average is $7.55. 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 fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James lifted 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. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 target price 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.

Insider Buying and Selling at Archer Aviation

In related news, insider Tosha Perkins sold 33,335 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the transaction, the insider now directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now directly owns 1,131,443 shares in the company, valued at $8,712,111.10. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,780 shares of company stock valued at $3,158,081. Company insiders own 9.75% of the company's stock.

About Archer Aviation

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.