Blair William & Co. IL Buys 366,333 Shares of Archer Aviation Inc. (NYSE:ACHR)

Blair William & Co. IL increased its position in Archer Aviation Inc. (NYSE:ACHR) by 407.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,307 shares of the company’s stock after purchasing an additional 366,333 shares during the period. Blair William & Co. IL owned approximately 0.11% of Archer Aviation worth $4,449,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after acquiring an additional 446,864 shares during the last quarter. Private Advisor Group LLC lifted its position in Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock valued at $501,000 after acquiring an additional 36,840 shares in the last quarter. ARK Investment Management LLC boosted its stake in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $6,039,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 7.6 %

ACHR opened at $7.26 on Monday. The firm’s 50 day simple moving average is $8.75 and its two-hundred day simple moving average is $6.89. The company has a market capitalization of $3.94 billion, a PE ratio of -5.50 and a beta of 3.14. 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.

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

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,985 shares of company stock valued at $2,555,685 over the last quarter. 9.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, Needham & Company LLC boosted their target price 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Company 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.