Archer Aviation Inc. (NYSE:ACHR) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 4,263.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,207 shares of the company's stock after acquiring an additional 192,687 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Archer Aviation were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACHR. GPS Wealth Strategies Group LLC increased its holdings in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after buying an additional 2,975 shares during the last quarter. US Bancorp DE increased its stake in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock valued at $44,000 after buying an additional 4,306 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Archer Aviation during the 4th quarter valued at about $49,000. Amalgamated Bank boosted its position in shares of Archer Aviation by 50.7% during the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company's stock valued at $78,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company's stock worth $78,000 after acquiring an additional 3,430 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Spellacy sold 63,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $7.10, for a total transaction of $447,300.00. Following the sale, the director now directly owns 191,513 shares in the company, valued at approximately $1,359,742.30. This represents a 24.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 608,498 shares of company stock worth $5,368,115. 9.75% of the stock is currently owned by insiders.

Archer Aviation Stock Up 9.6 %

Shares of NYSE ACHR traded up $0.66 during mid-day trading on Wednesday, hitting $7.47. The company had a trading volume of 19,358,727 shares, compared to its average volume of 32,234,760. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The business's 50-day simple moving average is $9.18 and its 200 day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $4.05 billion, a PE ratio of -5.65 and a beta of 3.14.

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 (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACHR shares. Raymond James boosted 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 lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.