Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 89.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 242,374 shares of the company's stock after purchasing an additional 114,616 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Archer Aviation worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake 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 last quarter. Sanctuary Advisors LLC increased its stake in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares during the last quarter. Xponance Inc. increased its stake in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after acquiring an additional 1,299 shares during the last quarter. Hollencrest Capital Management increased its stake in shares of Archer Aviation by 7.4% during the 4th quarter. Hollencrest Capital Management now owns 26,000 shares of the company's stock valued at $254,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Interchange Capital Partners LLC increased its stake in shares of Archer Aviation by 8.0% during the 4th quarter. Interchange Capital Partners LLC now owns 26,494 shares of the company's stock valued at $258,000 after acquiring an additional 1,972 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. The trade was a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares of the company's stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Down 0.6 %

NYSE ACHR traded down $0.05 on Monday, reaching $8.54. The company had a trading volume of 16,278,975 shares, compared to its average volume of 20,914,722. The firm has a market capitalization of $4.63 billion, a PE ratio of -6.47 and a beta of 3.16. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The firm has a 50-day moving average of $7.70 and a 200-day moving average of $7.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.