Archer Aviation Inc. (NYSE:ACHR – Get Free Report) 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 – Get Free Report) 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
Read Our Latest Stock Analysis on Archer Aviation
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.
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