Intech Investment Management LLC Has $1.01 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Intech Investment Management LLC boosted its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 52.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,547 shares of the company's stock after buying an additional 35,715 shares during the quarter. Intech Investment Management LLC's holdings in Archer Aviation were worth $1,010,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Archer Aviation by 708.3% during the fourth 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. Tidal Investments LLC boosted its holdings in shares of Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after buying an additional 3,339 shares during the period. US Bancorp DE raised its holdings in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock valued at $44,000 after acquiring an additional 4,306 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Archer Aviation by 50.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock valued at $45,000 after acquiring an additional 5,000 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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Archer Aviation Price Performance

ACHR traded down $0.66 during trading on Wednesday, hitting $8.14. The company's stock had a trading volume of 15,186,628 shares, compared to its average volume of 19,098,259. The firm's 50 day moving average price is $8.82 and its two-hundred day moving average price is $6.80. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -6.16 and a beta of 3.14. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ACHR shares. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Raymond James boosted 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. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.

Insider Buying and Selling

In related news, CFO Mark Mesler sold 62,258 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tosha Perkins sold 49,273 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was 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 approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,985 shares of company stock worth $2,555,685 in the last quarter. Insiders own 9.75% of the company's stock.

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.