Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,835,128 shares of the company's stock after purchasing an additional 724,736 shares during the quarter. Geode Capital Management LLC owned approximately 1.37% of Archer Aviation worth $56,908,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted 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 purchasing an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 446,864 shares during the period. Private Advisor Group LLC grew its holdings in shares of Archer Aviation by 253.4% during the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after buying an additional 36,840 shares during the last quarter. ARK Investment Management LLC increased its position in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the period. Finally, Yarbrough Capital LLC purchased a new stake in Archer Aviation during the 4th quarter valued at approximately $6,039,000. Institutional investors and hedge funds own 59.34% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACHR shares. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Needham & Company LLC upped their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock 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. Raymond James increased their price target 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. Finally, Canaccord Genuity Group lifted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and an average target price of $11.61.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the transaction, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 424,780 shares of company stock worth $3,158,081. 9.75% of the stock is owned by corporate insiders.

Archer Aviation Price Performance

Shares of ACHR traded down $0.13 on Tuesday, reaching $7.13. The stock had a trading volume of 13,765,673 shares, compared to its average volume of 20,304,590. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The firm has a market capitalization of $3.87 billion, a PE ratio of -5.40 and a beta of 3.16. The firm has a 50-day moving average of $8.12 and a 200 day moving average of $7.21. 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 (NYSE:ACHR - Get Free Report) last posted its earnings results 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. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.