Stifel Financial Corp Purchases 30,305 Shares of Archer Aviation Inc. (NYSE:ACHR)

Stifel Financial Corp raised its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 489,476 shares of the company's stock after purchasing an additional 30,305 shares during the period. Stifel Financial Corp owned approximately 0.12% of Archer Aviation worth $4,772,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new position in shares of Archer Aviation in the 4th quarter valued at approximately $199,000. MetLife Investment Management LLC lifted its stake in Archer Aviation by 24.9% in the fourth quarter. MetLife Investment Management LLC now owns 142,352 shares of the company's stock valued at $1,388,000 after buying an additional 28,349 shares in the last quarter. HITE Hedge Asset Management LLC boosted its holdings in shares of Archer Aviation by 125.8% in the fourth quarter. HITE Hedge Asset Management LLC now owns 430,360 shares of the company's stock valued at $4,196,000 after buying an additional 239,760 shares during the period. Zacks Investment Management acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $1,073,000. Finally, NewEdge Advisors LLC increased its position in shares of Archer Aviation by 43.4% during the fourth quarter. NewEdge Advisors LLC now owns 34,001 shares of the company's stock worth $332,000 after acquiring an additional 10,296 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the transaction, the chief technology officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 474,780 shares of company stock valued at $3,581,581. 9.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Archer Aviation Stock Up 9.3 %

Shares of Archer Aviation stock traded up $0.79 on Friday, reaching $9.27. 39,716,908 shares of the company were exchanged, compared to its average volume of 21,383,533. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of -7.02 and a beta of 3.16. 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 one year low of $2.82 and a one year high of $12.48. The company has a 50-day moving average of $7.70 and a 200 day moving average of $7.70.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results 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, equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.