398,750 Shares in Archer Aviation Inc. (NYSE:ACHR) Purchased by Science & Technology Partners L.P.

Science & Technology Partners L.P. acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 398,750 shares of the company's stock, valued at approximately $3,888,000. Archer Aviation makes up about 1.2% of Science & Technology Partners L.P.'s holdings, making the stock its 18th largest holding. Science & Technology Partners L.P. owned about 0.09% of Archer Aviation as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. ARK Investment Management LLC raised its stake in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Archer Aviation by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company's stock valued at $56,908,000 after purchasing an additional 724,736 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation in the 4th quarter worth $42,709,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Archer Aviation by 24.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after buying an additional 446,864 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 33,335 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares in the company, valued at $1,849,217.92. This represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 424,780 shares of company stock worth $3,158,081. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Price Performance

Archer Aviation stock traded down $0.31 during trading on Monday, reaching $8.29. The company had a trading volume of 10,935,018 shares, compared to its average volume of 20,893,751. The firm has a market capitalization of $4.49 billion, a PE ratio of -6.27 and a beta of 3.16. The firm's 50-day simple moving average is $7.73 and its 200 day simple moving average is $7.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year 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 research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.