Science & Technology Partners L.P. Purchases Shares of 398,750 Archer Aviation Inc. (NYSE:ACHR)

Science & Technology Partners L.P. bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 398,750 shares of the company's stock, valued at approximately $3,888,000. Archer Aviation comprises 1.2% of Science & Technology Partners L.P.'s investment portfolio, making the stock its 18th largest position. Science & Technology Partners L.P. owned 0.09% of Archer Aviation at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in Archer Aviation in the 4th quarter worth approximately $121,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Archer Aviation by 28.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 132,191 shares of the company's stock valued at $1,289,000 after acquiring an additional 29,424 shares during the period. Dark Forest Capital Management LP bought a new position in Archer Aviation in the fourth quarter valued at about $136,000. Stifel Financial Corp increased its position in Archer Aviation by 6.6% in the fourth quarter. Stifel Financial Corp now owns 489,476 shares of the company's stock worth $4,772,000 after purchasing an additional 30,305 shares during the period. Finally, TD Waterhouse Canada Inc. bought a new stake in Archer Aviation during the 4th quarter worth about $199,000. 59.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 33,335 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the transaction, the insider now directly owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,780 shares of company stock valued at $3,158,081. Company insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 0.4 %

Shares of NYSE:ACHR traded up $0.03 during trading on Friday, hitting $8.59. 20,074,064 shares of the company's stock traded hands, compared to its average volume of 20,861,905. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $7.73 and a 200-day moving average price of $7.44. 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 $4.66 billion, a price-to-earnings ratio of -6.51 and a beta of 3.16.

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

Analysts Set New Price Targets

ACHR has been the subject of several analyst reports. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Monday. 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. Finally, HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus 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.