Barclays PLC Has $1.29 Million Holdings in Archer Aviation Inc. (NYSE:ACHR)

Barclays PLC increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 272.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,023 shares of the company's stock after purchasing an additional 312,440 shares during the quarter. Barclays PLC owned approximately 0.10% of Archer Aviation worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACHR. Principal Financial Group Inc. lifted its position in Archer Aviation by 75.6% during the 2nd quarter. Principal Financial Group Inc. now owns 31,064 shares of the company's stock worth $109,000 after acquiring an additional 13,372 shares in the last quarter. Rhumbline Advisers raised its position in shares of Archer Aviation by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 311,852 shares of the company's stock valued at $1,098,000 after purchasing an additional 70,575 shares in the last quarter. Arizona State Retirement System raised its position in shares of Archer Aviation by 13.7% in the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company's stock valued at $210,000 after purchasing an additional 7,184 shares in the last quarter. Choreo LLC acquired a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $49,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $114,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Archer Aviation Stock Down 8.4 %

ACHR stock traded down $0.75 during mid-day trading on Monday, hitting $8.22. The stock had a trading volume of 25,805,400 shares, compared to its average volume of 38,969,816. 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 Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a fifty day moving average of $7.65 and a 200 day moving average of $5.05. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -6.23 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data 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 period last year, the business earned ($0.19) earnings per share. On average, equities analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Canaccord Genuity Group boosted their price target on Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $6.00 to $9.00 in a report on Friday. Finally, Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a "buy" rating and a $11.00 price objective for the company. Two research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.38.

Insiders Place Their Bets

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was 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. This represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, 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.

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.