HighTower Advisors LLC Acquires 4,925 Shares of Archer Aviation Inc. (NYSE:ACHR)

HighTower Advisors LLC raised its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,320 shares of the company’s stock after buying an additional 4,925 shares during the period. HighTower Advisors LLC’s holdings in Archer Aviation were worth $247,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC grew its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after acquiring an additional 2,975 shares during the period. Tidal Investments LLC boosted its position 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 worth $44,000 after purchasing an additional 3,339 shares during the period. US Bancorp DE increased its stake in shares of Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after purchasing an additional 4,306 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% during the 3rd 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 period. Finally, EP Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 5,000 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Up 3.6 %

Shares of ACHR opened at $7.21 on Thursday. The stock’s 50-day moving average price is $8.61 and its 200-day moving average price is $6.95. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -5.46 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

ACHR has been the topic of several recent analyst reports. Raymond James lifted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Needham & Company LLC boosted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective 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. Two 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.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 474,780 shares of company stock valued at $3,758,081 in the last ninety days. 9.75% of the stock is currently owned by corporate insiders.

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.