Archer Aviation Inc. (NYSE:ACHR) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc raised its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 74.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,048 shares of the company’s stock after buying an additional 3,430 shares during the period. Versant Capital Management Inc’s holdings in Archer Aviation were worth $78,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after acquiring an additional 254,460 shares during the period. Principal Financial Group Inc. increased its holdings in Archer Aviation by 75.6% in the 2nd quarter. Principal Financial Group Inc. now owns 31,064 shares of the company’s stock valued at $109,000 after purchasing an additional 13,372 shares in the last quarter. Rhumbline Advisers raised its position in Archer Aviation by 29.3% in the second quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock valued at $1,098,000 after purchasing an additional 70,575 shares during the period. Arizona State Retirement System lifted its stake in shares of Archer Aviation by 13.7% during the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after purchasing an additional 7,184 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Archer Aviation in the second quarter worth about $49,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Deborah Diaz purchased 5,150 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the transaction, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACHR shares. Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $11.51 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $11.69. The firm’s 50-day simple moving average is $6.93 and its 200-day simple moving average is $4.79. The firm has a market cap of $4.89 billion, a PE ratio of -8.72 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) earnings per share. Equities analysts forecast that Archer Aviation Inc. will post -1.28 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.