UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.04 Million Position in Archer Aviation Inc. (NYSE:ACHR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,010 shares of the company’s stock after selling 57,092 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Archer Aviation worth $1,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Raymond James & Associates increased its holdings in Archer Aviation by 44.4% in the 2nd quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock valued at $2,201,000 after buying an additional 192,120 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Archer Aviation by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 46,058 shares of the company’s stock valued at $162,000 after buying an additional 13,377 shares during the period. Fullcircle Wealth LLC acquired a new position in shares of Archer Aviation in the 2nd quarter valued at $70,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Trading Down 1.5 %

ACHR stock opened at $8.95 on Thursday. The business has a fifty day moving average price of $5.12 and a 200 day moving average price of $4.18. 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 Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business posted ($0.19) earnings per share. Analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total value of $3,327,668.52. Following the sale, the chief technology officer now owns 1,170,360 shares of the company’s stock, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,621,386 shares worth $9,686,577. Corporate insiders own 9.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ACHR shares. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group raised their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.63.

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.