Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC boosted its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 170.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,706,760 shares of the company's stock after buying an additional 1,706,760 shares during the period. Archer Aviation accounts for 1.5% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 14th largest position. Ghisallo Capital Management LLC owned 0.64% of Archer Aviation worth $26,391,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conquis Financial LLC purchased a new stake in Archer Aviation in the fourth quarter valued at $29,000. Harbour Investments Inc. raised its position in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the period. Oarsman Capital Inc. raised its holdings in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after buying an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after buying an additional 2,975 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACHR shares. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Monday, April 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Finally, Canaccord Genuity Group boosted 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $11.61.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. This trade represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Down 0.6 %

Shares of NYSE:ACHR traded down $0.05 on Monday, hitting $8.54. 16,278,975 shares of the company's stock were exchanged, compared to its average volume of 20,914,718. The firm's 50-day moving average is $7.70 and its 200 day moving average is $7.54. The company has a market capitalization of $4.63 billion, a PE ratio of -6.47 and a beta of 3.16. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year 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.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.