Raymond James Financial Inc. Purchases New Holdings in Archer Aviation Inc. (NYSE:ACHR)

Raymond James Financial Inc. purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 743,467 shares of the company's stock, valued at approximately $7,249,000. Raymond James Financial Inc. owned about 0.17% of Archer Aviation at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC lifted its position in 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 purchasing an additional 2,975 shares during the period. US Bancorp DE lifted its holdings in Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock valued at $44,000 after buying an additional 4,306 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Archer Aviation in the fourth quarter valued at approximately $49,000. Amalgamated Bank grew its holdings in Archer Aviation by 50.7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company's stock worth $78,000 after acquiring an additional 2,680 shares during the period. Finally, Versant Capital Management Inc grew its holdings 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 period. Institutional investors own 59.34% of the company's stock.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares of the company's stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares of the company's stock, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,985 shares of company stock worth $2,555,685 over the last quarter. 9.75% of the stock is currently owned by insiders.

Remove Ads

Archer Aviation Stock Down 3.5 %

ACHR traded down $0.29 during trading hours on Thursday, hitting $7.84. 18,251,799 shares of the company's stock were exchanged, compared to its average volume of 30,688,652. 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 Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The stock's 50-day moving average is $8.81 and its two-hundred day moving average is $6.81. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -5.94 and a beta of 3.14.

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. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACHR has been the subject of a number of analyst reports. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. HC Wainwright restated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Needham & Company LLC increased their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and a consensus target price of $11.61.

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.