Tudor Investment Corp ET AL Purchases Shares of 932,223 Archer Aviation Inc. (NYSE:ACHR)

Tudor Investment Corp ET AL purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 932,223 shares of the company's stock, valued at approximately $9,089,000. Tudor Investment Corp ET AL owned approximately 0.22% of Archer Aviation as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Archer Aviation during the fourth quarter worth $42,709,000. Vanguard Group Inc. raised its position in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after buying an additional 2,908,859 shares during the last quarter. Ghisallo Capital Management LLC lifted its stake in Archer Aviation by 170.7% during the 4th quarter. Ghisallo Capital Management LLC now owns 2,706,760 shares of the company's stock valued at $26,391,000 after acquiring an additional 1,706,760 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Archer Aviation during the 4th quarter worth $15,912,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Insiders Place Their Bets

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction dated 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 $4,852,871.10. This represents a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 50,000 shares of Archer Aviation stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.47, for a total value of $423,500.00. Following the sale, the insider now owns 212,673 shares of the company's stock, valued at approximately $1,801,340.31. This trade represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 474,780 shares of company stock worth $3,581,581 in the last three months. 9.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ACHR has been the topic of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Monday, April 21st. Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James lifted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

Archer Aviation Stock Performance

ACHR stock traded up $0.79 during midday trading on Friday, reaching $9.27. 39,716,908 shares of the company's stock traded hands, compared to its average volume of 21,383,533. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a 50-day moving average price of $7.70 and a two-hundred day moving average price of $7.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $5.03 billion, a PE ratio of -7.02 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results 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 analysts anticipate that Archer Aviation Inc. will post -1.32 EPS 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.