Avanza Fonder AB Purchases Shares of 69,166 Archer Aviation Inc. (NYSE:ACHR)

Avanza Fonder AB purchased a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 69,166 shares of the company's stock, valued at approximately $674,000.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. HBK Investments L P purchased a new position in shares of Archer Aviation during the third quarter valued at $6,818,000. Yarbrough Capital LLC acquired a new position in Archer Aviation during the fourth quarter valued at $6,039,000. Benjamin Edwards Inc. lifted its stake in Archer Aviation by 12,656.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock worth $322,000 after acquiring an additional 105,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock worth $5,547,000 after acquiring an additional 94,430 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insider Buying and Selling

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares of the company's stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company's stock.

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Archer Aviation Stock Down 3.2 %

Shares of Archer Aviation stock traded down $0.30 during midday trading on Monday, reaching $8.80. 27,394,284 shares of the company's stock traded hands, compared to its average volume of 43,078,868. 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 Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company's 50 day simple moving average is $8.17 and its 200 day simple moving average is $5.22. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -6.66 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) earnings per share. Equities analysts expect that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ACHR shares. HC Wainwright reiterated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald increased their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 price objective on shares of Archer Aviation in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.38.

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.