Monashee Investment Management LLC Cuts Holdings in Archer Aviation Inc. (NYSE:ACHR)

Monashee Investment Management LLC lessened its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 446,240 shares of the company's stock after selling 153,760 shares during the quarter. Archer Aviation accounts for approximately 0.6% of Monashee Investment Management LLC's holdings, making the stock its 16th largest holding. Monashee Investment Management LLC owned 0.10% of Archer Aviation worth $4,351,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Conquis Financial LLC purchased a new position in shares of Archer Aviation in the fourth quarter worth about $29,000. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% during 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 during the period. Oarsman Capital Inc. increased its stake in shares of Archer Aviation by 471.7% in the fourth 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 period. Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in Archer Aviation by 708.3% during the fourth 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. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 474,780 shares of company stock valued at $3,581,581 over the last ninety days. Company insiders own 9.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ACHR. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC restated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Monday, April 21st. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.61.

Archer Aviation Price Performance

NYSE ACHR traded up $0.79 during trading hours on Friday, hitting $9.27. 39,716,908 shares of the company's stock traded hands, compared to its average volume of 21,383,533. 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 firm's 50-day moving average is $7.70 and its 200-day moving average is $7.67. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a market capitalization of $5.03 billion, a PE ratio of -7.02 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.