EAM Investors LLC Takes $2.67 Million Position in Archer Aviation Inc. (NYSE:ACHR)

EAM Investors LLC bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 273,506 shares of the company's stock, valued at approximately $2,667,000. EAM Investors LLC owned 0.06% of Archer Aviation at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC increased its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after acquiring an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock valued at $22,206,000 after buying an additional 446,864 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after acquiring an additional 36,840 shares during the period. ARK Investment Management LLC boosted its position in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new position in Archer Aviation in the fourth quarter valued at approximately $6,039,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Needham & Company LLC raised their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares in the company, valued at approximately $1,849,217.92. The trade was a 11.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now directly owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,780 shares of company stock valued at $3,158,081 over the last ninety days. 9.75% of the stock is owned by company insiders.

Archer Aviation Trading Up 2.5 %

NYSE ACHR traded up $0.18 during trading hours on Friday, hitting $7.23. 20,961,056 shares of the company's stock were exchanged, compared to its average volume of 20,546,380. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $7.98 and a 200 day simple moving average of $7.24. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -5.47 and a beta of 3.16.

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

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.