Barclays PLC Purchases 312,440 Shares of Archer Aviation Inc. (NYSE:ACHR)

Barclays PLC lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 272.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,023 shares of the company’s stock after buying an additional 312,440 shares during the quarter. Barclays PLC owned about 0.12% of Archer Aviation worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter valued at $26,000. Hollencrest Capital Management grew its holdings in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the period. Code Waechter LLC bought a new stake in Archer Aviation in the third quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation during the third quarter valued at about $31,000. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation during the 3rd quarter worth about $36,000. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC began coverage on Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Insiders Place Their Bets

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business’s 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 sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company’s stock.

Archer Aviation Stock Down 1.3 %

ACHR opened at $11.18 on Friday. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $11.69. The firm has a market capitalization of $4.75 billion, a P/E ratio of -8.47 and a beta of 3.19. The company’s 50-day moving average is $6.23 and its 200 day moving average is $4.54. 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) last posted its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) EPS. Research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share 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.