Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Moore Capital Management LP

Moore Capital Management LP grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 425,000 shares of the company's stock after purchasing an additional 175,000 shares during the quarter. Moore Capital Management LP owned approximately 0.10% of Archer Aviation worth $4,144,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ACHR. Conquis Financial LLC bought a new stake in Archer Aviation during the fourth quarter valued at approximately $29,000. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the period. Oarsman Capital Inc. grew its holdings in Archer Aviation by 471.7% in 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. Anchor Investment Management LLC increased its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of 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 acquiring an additional 2,975 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACHR. Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Price Performance

NYSE ACHR traded up $0.29 on Thursday, reaching $12.13. The company had a trading volume of 42,411,212 shares, compared to its average volume of 22,251,462. The stock has a market capitalization of $6.58 billion, a PE ratio of -9.19 and a beta of 3.13. The firm's 50 day moving average price is $7.92 and its 200 day moving average price is $7.98. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its 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, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 33,335 shares of Archer Aviation 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 owns 262,673 shares of the company's stock, valued at $1,849,217.92. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction 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 trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 474,780 shares of company stock worth $3,581,581. Insiders own 7.65% of the company's stock.

Archer Aviation 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.