Insider Buying: Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Acquires 2,982,089 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) major shareholder N.V. Stellantis acquired 2,982,089 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Archer Aviation Stock Down 8.8 %

Shares of NYSE ACHR opened at $3.64 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of -2.23 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. Archer Aviation Inc. has a 1 year low of $3.00 and a 1 year high of $7.49. The firm’s 50 day moving average price is $3.96 and its 200 day moving average price is $4.24.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period last year, the business posted ($0.46) earnings per share. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on ACHR shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Benchmark reissued a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday. Finally, Barclays reduced their price objective on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Institutional Trading of Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Archer Aviation by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after purchasing an additional 5,611 shares during the last quarter. Arizona State Retirement System raised its stake in 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 during the period. Victory Capital Management Inc. boosted its holdings in shares of Archer Aviation by 50.0% in the 4th quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after purchasing an additional 8,246 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its stake in shares of Archer Aviation by 48.7% during the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after buying an additional 8,361 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.