SG Americas Securities LLC Buys New Holdings in Archer Aviation Inc. (NYSE:ACHR)

SG Americas Securities LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 109,524 shares of the company’s stock, valued at approximately $1,068,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC bought a new position in shares of Archer Aviation in the third quarter worth $30,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Archer Aviation in the third quarter valued at $31,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at $36,000. Finally, Narwhal Capital Management purchased a new stake in Archer Aviation during the 3rd quarter worth about $40,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $9.16 on Wednesday. The stock has a 50 day moving average price of $8.87 and a 200-day moving average price of $5.47. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -6.94 and a beta of 3.15. 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 (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the firm posted ($0.19) earnings per share. Equities analysts expect that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, CEO Adam D. Goldstein purchased 19,762 shares of the stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACHR has been the subject of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald lifted 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. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.38.

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.