Private Advisor Group LLC Buys 36,840 Shares of Archer Aviation Inc. (NYSE:ACHR)

Private Advisor Group LLC lifted its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 253.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,376 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ACHR. Sanctuary Advisors LLC increased its stake in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after buying an additional 1,246 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after purchasing an additional 2,975 shares during the last quarter. Townsquare Capital LLC grew its holdings in Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after purchasing an additional 3,033 shares during the period. PFG Investments LLC grew its position in Archer Aviation by 16.3% during the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company's stock valued at $223,000 after acquiring an additional 3,192 shares during the period. Finally, Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after buying an additional 3,339 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Down 0.1 %

NYSE ACHR traded down $0.00 on Friday, hitting $7.56. 18,243,815 shares of the company were exchanged, compared to its average volume of 32,648,586. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The firm has a market capitalization of $3.21 billion, a P/E ratio of -5.73 and a beta of 3.14. The company's 50 day moving average price is $9.38 and its 200-day moving average price is $6.36.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued 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. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares of the company's stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the business's 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 $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares of the company's stock, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,046,926 shares of company stock worth $8,695,783. 9.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ACHR. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Canaccord Genuity Group boosted 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. Needham & Company LLC raised their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Finally, Raymond James lifted their price target on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have issued 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 price target of $11.61.

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.