Cookson Peirce & Co. Inc. Invests $390,000 in Archer Aviation Inc. (NYSE:ACHR)

Cookson Peirce & Co. Inc. bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the company's stock, valued at approximately $390,000.

Several other large investors also recently bought and sold shares of the company. ARK Investment Management LLC increased its position in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after buying an additional 6,371,647 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. Sora Investors LLC purchased a new stake in shares of Archer Aviation during the third quarter worth about $3,429,000. Yarbrough Capital LLC acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $6,039,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after acquiring an additional 446,864 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Buying and Selling

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now directly owns 60,486,841 shares of the company's stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 1,046,926 shares of company stock valued at $8,695,783. Corporate insiders own 9.75% of the company's stock.

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Archer Aviation Trading Down 10.2 %

Shares of ACHR stock traded down $0.77 during mid-day trading on Monday, reaching $6.76. The company's stock had a trading volume of 28,268,527 shares, compared to its average volume of 32,716,518. The company's 50 day simple moving average is $9.30 and its 200-day simple moving average is $6.42. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The firm has a market capitalization of $2.87 billion, a PE ratio of -5.12 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. On average, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACHR shares. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC boosted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.