Entropy Technologies LP Acquires Shares of 38,100 Archer Aviation Inc. (NYSE:ACHR)

Entropy Technologies LP acquired a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,100 shares of the company's stock, valued at approximately $371,000.

A number of other large investors also recently modified their holdings of the company. GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after buying an additional 2,975 shares in the last quarter. Townsquare Capital LLC grew its position in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock worth $45,000 after acquiring an additional 3,033 shares during the last quarter. PFG Investments LLC grew its position in Archer Aviation by 16.3% during the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company's stock worth $223,000 after acquiring an additional 3,192 shares during the last quarter. Tidal Investments LLC grew its position in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after acquiring an additional 3,339 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Archer Aviation by 74.3% during the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company's stock worth $78,000 after acquiring an additional 3,430 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Up 8.5 %

Shares of NYSE ACHR traded up $0.81 during mid-day trading on Friday, hitting $10.33. 50,143,838 shares of the stock traded hands, compared to its average volume of 23,369,936. 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 has a market cap of $4.39 billion, a price-to-earnings ratio of -7.82 and a beta of 3.13. The stock has a fifty day moving average price of $9.43 and a 200-day moving average price of $5.90.

Insider Activity at Archer Aviation

In other news, Director Deborah Diaz purchased 5,150 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares of the company's stock, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. HC Wainwright restated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Canaccord Genuity Group reduced their price target on Archer Aviation from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and an average price target of $11.25.

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.