Optimize Financial Inc Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Optimize Financial Inc acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,070 shares of the company's stock, valued at approximately $644,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after buying an additional 94,430 shares during the last quarter. Centiva Capital LP bought a new position in shares of Archer Aviation during the third quarter valued at about $79,000. Stifel Financial Corp boosted its holdings in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. EP Wealth Advisors LLC grew its position in Archer Aviation by 50.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock worth $45,000 after purchasing an additional 5,000 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Archer Aviation in the 3rd quarter worth about $397,000. 59.34% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the transaction, the general counsel now owns 45,416 shares of the company's stock, valued at $319,728.64. This represents a 52.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 33,335 shares of the company's stock in a transaction on 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 transaction, the insider now owns 262,673 shares of the company's stock, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock worth $3,158,081 in the last three months. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Performance

ACHR stock traded down $0.15 during midday trading on Wednesday, reaching $6.97. 7,275,553 shares of the company's stock traded hands, compared to its average volume of 20,321,033. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a 50-day moving average price of $8.08 and a two-hundred day moving average price of $7.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $3.78 billion, a PE ratio of -5.28 and a beta of 3.16.

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 for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

ACHR has been the topic of a number of research analyst reports. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC lifted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Company 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.