Avanza Fonder AB Invests $674,000 in Archer Aviation Inc. (NYSE:ACHR)

Avanza Fonder AB bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,166 shares of the company's stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ACHR. Geode Capital Management LLC raised its stake 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 worth $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P acquired a new stake in shares of Archer Aviation during the 3rd quarter worth about $6,818,000. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $5,547,000 after purchasing an additional 94,430 shares during the last quarter. Sora Investors LLC bought a new stake in Archer Aviation during the third quarter worth about $3,429,000. Finally, Intellectus Partners LLC increased its holdings in shares of Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock worth $2,790,000 after buying an additional 11,800 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Down 3.2 %

Shares of NYSE:ACHR traded down $0.30 during trading on Monday, hitting $8.80. 27,394,284 shares of the company's stock were exchanged, compared to its average volume of 43,078,868. The firm has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $5.22. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The firm has a market cap of $3.74 billion, a P/E ratio of -6.66 and a beta of 3.15. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares of the company's stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.38.

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.