Short Interest in Archer Aviation Inc. (NYSE:ACHR) Rises By 5.8%

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 52,040,000 shares, a growth of 5.8% from the March 15th total of 49,210,000 shares. Approximately 27.3% of the company's stock are short sold. Based on an average daily trading volume, of 5,380,000 shares, the short-interest ratio is currently 9.7 days.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 800,000 shares of the firm's stock in a transaction on Friday, March 8th. The stock was bought at an average price of $4.60 per share, with a total value of $3,680,000.00. Following the purchase, the insider now directly owns 35,451,720 shares of the company's stock, valued at approximately $163,077,912. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 3,150,000 shares of company stock valued at $15,724,500 in the last quarter. Company insiders own 27.17% of the company's stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. ARK Investment Management LLC increased its stake in Archer Aviation by 159.6% in the third quarter. ARK Investment Management LLC now owns 23,790,372 shares of the company's stock valued at $120,379,000 after acquiring an additional 14,625,655 shares during the period. State Street Corp boosted its position in Archer Aviation by 1,667.7% in the second quarter. State Street Corp now owns 6,964,137 shares of the company's stock valued at $21,450,000 after buying an additional 6,570,169 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Archer Aviation by 54.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company's stock valued at $59,478,000 after buying an additional 4,154,340 shares in the last quarter. Vanguard Group Inc. boosted its position in Archer Aviation by 20.8% in the fourth quarter. Vanguard Group Inc. now owns 10,059,471 shares of the company's stock valued at $61,765,000 after buying an additional 1,734,746 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Archer Aviation by 31.9% in the first quarter. Invesco Ltd. now owns 4,464,734 shares of the company's stock valued at $21,475,000 after buying an additional 1,079,978 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Archer Aviation in a report on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.60.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded down $0.02 on Tuesday, hitting $3.88. 3,067,608 shares of the company were exchanged, compared to its average volume of 5,226,314. The company's 50 day moving average price is $4.76 and its two-hundred day moving average price is $5.28. Archer Aviation has a one year low of $1.77 and a one year high of $7.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.35). As a group, sell-side analysts forecast that Archer Aviation will post -1.45 earnings per share for the current 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.

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