Sora Investors LLC Trims Stake in Archer Aviation Inc. (NYSE:ACHR)

Sora Investors LLC decreased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 36.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 714,285 shares of the company's stock after selling 417,366 shares during the period. Sora Investors LLC owned 0.17% of Archer Aviation worth $6,964,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ACHR. 180 Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the fourth quarter valued at $105,000. Hennion & Walsh Asset Management Inc. raised its position in Archer Aviation by 25.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 55,750 shares of the company's stock worth $544,000 after buying an additional 11,317 shares during the last quarter. Yarbrough Capital LLC bought a new position in Archer Aviation during the 4th quarter valued at about $6,039,000. Avanza Fonder AB bought a new position in Archer Aviation during the 4th quarter valued at about $674,000. Finally, Sara Bay Financial purchased a new stake in shares of Archer Aviation during the 4th quarter valued at about $104,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Trading Up 2.4%

Shares of NYSE:ACHR opened at $12.13 on Friday. The company has a current ratio of 6.03, a quick 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 $14.35. The stock has a 50 day moving average of $8.03 and a 200 day moving average of $8.04. The company has a market cap of $6.58 billion, a PE ratio of -9.19 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were 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 directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. The trade was a 11.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the firm'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 $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares of the company's stock, valued at approximately $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. 7.65% of the stock is owned by insiders.

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.

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