Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Alpine Global Management LLC

Alpine Global Management LLC decreased its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,685,921 shares of the company's stock after selling 126,775 shares during the period. Archer Aviation comprises approximately 7.8% of Alpine Global Management LLC's holdings, making the stock its 3rd largest holding. Alpine Global Management LLC owned approximately 0.87% of Archer Aviation worth $35,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbour Investments Inc. increased its holdings in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the period. Anchor Investment Management LLC raised its stake in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. Xponance Inc. raised its stake in Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after buying an additional 1,299 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Archer Aviation by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 24,423 shares of the company's stock valued at $238,000 after purchasing an additional 1,550 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company's stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 33,335 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares of the company's stock, valued at $1,849,217.92. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,780 shares of company stock worth $3,158,081 in the last 90 days. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded up $0.03 during midday trading on Friday, reaching $8.59. 20,074,064 shares of the stock were exchanged, compared to its average volume of 20,793,420. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $7.77 and a two-hundred day simple moving average of $7.40. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -6.51 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. 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 report on Friday, February 28th. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Monday. Finally, HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Archer Aviation presently has an average rating of "Moderate Buy" and a consensus price target of $11.61.

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.