Archer Aviation Inc. (NYSE:ACHR) Stock Holdings Increased by US Bancorp DE

US Bancorp DE lifted its position in Archer Aviation Inc. (NYSE:ACHR) by 2,725.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,464 shares of the company’s stock after buying an additional 4,306 shares during the period. US Bancorp DE’s holdings in Archer Aviation were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Archer Aviation in the 4th quarter worth $310,000. ARK Investment Management LLC raised its stake in shares of Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Amalgamated Bank raised its stake in shares of Archer Aviation by 50.7% in the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after buying an additional 2,680 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $89,000. Finally, Matauro LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $4,104,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $8.10 on Wednesday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year 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 company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -6.13 and a beta of 3.14. The stock’s fifty day simple moving average is $8.89 and its 200-day simple moving average is $6.61.

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

Insider Activity

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACHR. Needham & Company LLC boosted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.61.

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.