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

Stifel Financial Corp grew its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,476 shares of the company's stock after acquiring an additional 30,305 shares during the period. Stifel Financial Corp owned about 0.12% of Archer Aviation worth $4,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACHR. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the period. Anchor Investment Management LLC boosted its holdings in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the period. Sanctuary Advisors LLC boosted its holdings in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares during the period. Xponance Inc. boosted its holdings in Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after purchasing an additional 1,299 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Archer Aviation by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 24,423 shares of the company's stock valued at $238,000 after purchasing an additional 1,550 shares during the period. Institutional investors own 59.34% of the company's stock.

Insider Activity

In related news, insider Tosha Perkins sold 49,273 shares of the company'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 $379,402.10. Following the transaction, the insider now directly owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the company'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 value of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,780 shares of company stock valued at $3,158,081 in the last ninety days. 9.75% of the stock is owned by company insiders.

Archer Aviation Trading Down 7.3 %

NYSE ACHR opened at $8.33 on Thursday. The business's 50-day moving average price is $7.66 and its two-hundred day moving average price is $7.55. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The firm has a market capitalization of $4.52 billion, a PE ratio of -6.31 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 (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACHR shares. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

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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