Swiss National Bank Purchases 121,800 Shares of Archer Aviation Inc. (NYSE:ACHR)

Swiss National Bank lifted its position in Archer Aviation Inc. (NYSE:ACHR) by 31.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 511,700 shares of the company’s stock after acquiring an additional 121,800 shares during the period. Swiss National Bank owned 0.12% of Archer Aviation worth $4,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACHR. GPS Wealth Strategies Group LLC grew its holdings in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the period. Tidal Investments LLC boosted its position in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares in the last quarter. US Bancorp DE grew its stake in shares of Archer Aviation by 2,725.3% in the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after buying an additional 4,306 shares during the last quarter. EP Wealth Advisors LLC increased its position in Archer Aviation by 50.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after buying an additional 5,000 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 49,273 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 $379,402.10. Following the sale, the insider now directly owns 232,396 shares of the company’s stock, valued at $1,789,449.20. This represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,985 shares of company stock valued at $2,555,685. Insiders own 9.75% of the company’s stock.

Archer Aviation Stock Up 2.2 %

ACHR opened at $8.92 on Tuesday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of -6.75 and a beta of 3.14. The firm has a 50 day moving average price of $8.81 and a 200-day moving average price of $6.76. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced 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. Equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACHR. Needham & Company LLC increased their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.61.

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.