Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC raised its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 253.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,376 shares of the company’s stock after acquiring an additional 36,840 shares during the quarter. Private Advisor Group LLC’s holdings in Archer Aviation were worth $501,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC increased its holdings in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after purchasing an additional 2,975 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares during the last quarter. PFG Investments LLC increased its holdings in shares of Archer Aviation by 16.3% in the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock valued at $223,000 after purchasing an additional 3,192 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after purchasing an additional 3,339 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

ACHR has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday. Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Insiders Place Their Bets

In other news, General Counsel Eric Lentell sold 114,788 shares of Archer Aviation stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total transaction of $773,671.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 907,729 shares of company stock valued at $7,513,770 in the last ninety days. Insiders own 9.75% of the company’s stock.

Archer Aviation Stock Down 11.4 %

Shares of NYSE ACHR opened at $7.87 on Tuesday. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -5.96 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a 50-day moving average of $9.59 and a two-hundred day moving average of $6.28. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, analysts forecast that Archer Aviation Inc. will post -1.32 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.