Barclays PLC Buys 312,440 Shares of Archer Aviation Inc. (NYSE:ACHR)

Barclays PLC grew its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 272.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,023 shares of the company’s stock after buying an additional 312,440 shares during the period. Barclays PLC owned 0.10% of Archer Aviation worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management increased its position in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. Townsquare Capital LLC increased its position in Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. Hsbc Holdings PLC increased its position in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after purchasing an additional 3,341 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACHR. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $6.00 to $9.00 in a research report on Friday. Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Down 14.6 %

Shares of ACHR opened at $8.95 on Monday. The firm has a market capitalization of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.15. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $7.65 and a 200-day moving average price of $5.04.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the firm earned ($0.19) EPS. Equities research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Activity

In related news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam D. Goldstein acquired 19,762 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $5.12 per share, with a total value of $101,181.44. Following the completion of the purchase, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

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.