Aire Advisors LLC Has $141,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Aire Advisors LLC raised its position in Archer Aviation Inc. (NYSE:ACHR) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,500 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Aire Advisors LLC’s holdings in Archer Aviation were worth $141,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its holdings in shares of Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after purchasing an additional 6,371,647 shares during the period. Vanguard Group Inc. increased its stake in Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after acquiring an additional 2,908,859 shares during the period. HBK Investments L P acquired a new position in Archer Aviation in the 3rd quarter valued at $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at $3,429,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter worth $7,249,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $8.92 on Tuesday. The company has a market capitalization of $4.84 billion, a PE ratio of -6.75 and a beta of 3.14. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a 50 day simple moving average of $8.81 and a two-hundred day simple moving average of $6.76.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACHR shares. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC lifted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Insider Activity

In other news, CFO Mark Mesler sold 62,258 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now directly owns 232,396 shares of the company’s stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,985 shares of company stock worth $2,555,685 over the last three months. 9.75% of the stock is currently owned by insiders.

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.