Archer Aviation Inc. (NYSE:ACHR) Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,650 shares of the company's stock after purchasing an additional 52,509 shares during the period. Legal & General Group Plc owned 0.08% of Archer Aviation worth $3,341,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ACHR. Harbour Investments Inc. raised its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after buying an additional 1,095 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares during the period. Xponance Inc. boosted its holdings in shares of Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after purchasing an additional 1,299 shares during the period. Hollencrest Capital Management grew its stake in shares of Archer Aviation by 7.4% in the fourth quarter. Hollencrest Capital Management now owns 26,000 shares of the company's stock worth $254,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Interchange Capital Partners LLC increased its holdings in Archer Aviation by 8.0% during the 4th quarter. Interchange Capital Partners LLC now owns 26,494 shares of the company's stock valued at $258,000 after purchasing an additional 1,972 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Stock Performance

Shares of ACHR stock traded up $0.50 on Thursday, hitting $8.55. The company had a trading volume of 22,912,910 shares, compared to its average volume of 20,729,421. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. 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 firm has a market cap of $4.64 billion, a P/E ratio of -6.48 and a beta of 3.16. The company has a 50-day moving average price of $7.77 and a 200-day moving average price of $7.40.

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

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 99,224 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 $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. The trade was a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,780 shares of company stock worth $3,158,081. Company insiders own 9.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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 research report on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reiterated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Monday. 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, Archer Aviation has an average rating of "Moderate Buy" and an average 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.