Quantbot Technologies LP Purchases New Position in Archer Aviation Inc. (NYSE:ACHR)

Quantbot Technologies LP bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 17,097 shares of the company’s stock, valued at approximately $167,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Geode Capital Management LLC lifted its position in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after acquiring an additional 268,896 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after buying an additional 446,864 shares during the last quarter. Sora Investors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $3,429,000. Finally, Raymond James Financial Inc. acquired a new stake in Archer Aviation in the 4th quarter valued at about $7,249,000. 59.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft increased 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. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Needham & Company LLC increased their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Buying and Selling

In other news, General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares of the company’s stock, valued at $409,832.50. This trade represents a 44.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now 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. Insiders have sold a total of 303,985 shares of company stock valued at $2,555,685 over the last ninety days. 9.75% of the stock is owned by company insiders.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $7.26 on Monday. The company’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $6.89. The firm has a market capitalization of $3.94 billion, a P/E ratio of -5.50 and a beta of 3.14. 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 $12.48.

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

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.