Susquehanna Fundamental Investments LLC Acquires Shares of 716,448 Archer Aviation Inc. (NYSE:ACHR)

Susquehanna Fundamental Investments LLC purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 716,448 shares of the company's stock, valued at approximately $6,985,000. Susquehanna Fundamental Investments LLC owned about 0.17% of Archer Aviation as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock valued at $22,206,000 after buying an additional 446,864 shares during the period. Private Advisor Group LLC raised its holdings in shares of Archer Aviation by 253.4% during the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock valued at $501,000 after acquiring an additional 36,840 shares in the last quarter. ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% in the fourth 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 during the period. Finally, Yarbrough Capital LLC bought a new stake in Archer Aviation in the fourth quarter valued at $6,039,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,780 shares of company stock worth $3,158,081. 9.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Archer Aviation Stock Performance

ACHR traded up $0.05 during mid-day trading on Thursday, reaching $8.38. 14,831,420 shares of the company traded hands, compared to its average volume of 21,064,134. The stock has a market capitalization of $4.54 billion, a P/E ratio of -6.34 and a beta of 3.16. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company's fifty day moving average price is $7.66 and its 200-day moving average price is $7.55.

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, topping the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.