Sei Investments Co. Acquires Shares of 57,489 Archer Aviation Inc. (NYSE:ACHR)

Sei Investments Co. acquired a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 57,489 shares of the company's stock, valued at approximately $561,000.

A number of other institutional investors have also recently modified their holdings of ACHR. Harbour Investments Inc. boosted its position 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 worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares in the last quarter. Xponance Inc. grew its holdings in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after purchasing an additional 1,299 shares during the last quarter. Hollencrest Capital Management increased its position in Archer Aviation by 7.4% during the 4th quarter. Hollencrest Capital Management now owns 26,000 shares of the company's stock worth $254,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Archer Aviation by 50.7% in the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company's stock valued at $78,000 after purchasing an additional 2,680 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 33,335 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the transaction, the insider now owns 262,673 shares of the company's stock, valued at $1,849,217.92. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,780 shares of company stock worth $3,158,081. Insiders own 9.75% of the company's stock.

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Archer Aviation Trading Up 0.2 %

Shares of NYSE:ACHR traded up $0.02 during midday trading on Friday, reaching $7.04. The company's stock had a trading volume of 15,515,095 shares, compared to its average volume of 20,348,511. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $7.18. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -5.33 and a beta of 3.16.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. 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 report on Friday, February 21st. Finally, Needham & Company LLC boosted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating 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 company's stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $11.61.

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.