Private Advisor Group LLC Raises Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Private Advisor Group LLC increased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 253.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,376 shares of the company's stock after acquiring an additional 36,840 shares during the period. Private Advisor Group LLC's holdings in Archer Aviation were worth $501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock valued at $15,487,000 after buying an additional 268,896 shares during the period. HBK Investments L P purchased a new stake in Archer Aviation during the third quarter valued at about $6,818,000. Charles Schwab Investment Management Inc. boosted its position in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after buying an additional 94,430 shares during the period. Sora Investors LLC purchased a new stake in Archer Aviation during the third quarter valued at about $3,429,000. Finally, Intellectus Partners LLC boosted its position in Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock valued at $2,790,000 after buying an additional 11,800 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 438,428 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the sale, the chief technology officer now owns 1,170,360 shares in the company, valued at $8,883,032.40. This represents a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares of the company's stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,046,926 shares of company stock valued at $8,695,783. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 4.1 %

Shares of NYSE ACHR traded up $0.33 on Wednesday, reaching $8.31. 13,463,699 shares of the company's stock traded hands, compared to its average volume of 33,079,133. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The business's 50 day simple moving average is $9.50 and its two-hundred day simple moving average is $6.34. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -6.31 and a beta of 3.13. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Analyst Ratings Changes

ACHR has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC upped 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. Raymond James upped their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald increased their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average target price 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.