Matauro LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 420,911 shares of the company's stock, valued at approximately $4,104,000. Archer Aviation comprises approximately 0.9% of Matauro LLC's portfolio, making the stock its 21st biggest position. Matauro LLC owned approximately 0.10% of Archer Aviation as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC grew its stake in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after buying an additional 1,246 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after purchasing an additional 2,975 shares during the period. Townsquare Capital LLC lifted its holdings in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock worth $45,000 after purchasing an additional 3,033 shares in the last quarter. PFG Investments LLC boosted its stake in Archer Aviation by 16.3% in the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company's stock worth $223,000 after purchasing an additional 3,192 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after buying an additional 3,339 shares during the period. 59.34% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider Tosha Perkins sold 150,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,729 shares of company stock worth $8,473,770 in the last ninety days. 9.75% of the stock is owned by insiders.
Archer Aviation Trading Down 7.0 %
Shares of ACHR traded down $0.59 during trading hours on Tuesday, hitting $7.77. The company had a trading volume of 33,599,592 shares, compared to its average volume of 33,129,004. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $9.65 and its 200 day moving average price is $6.15. The firm has a market cap of $3.30 billion, a P/E ratio of -5.88 and a beta of 3.14.
Analyst Ratings Changes
A number of research firms recently weighed in on ACHR. HC Wainwright reaffirmed a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.33.
Get Our Latest Analysis on ACHR
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.
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