Sora Investors LLC Makes New $3.43 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

Sora Investors LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,131,651 shares of the company's stock, valued at approximately $3,429,000. Sora Investors LLC owned about 0.32% of Archer Aviation as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ACHR. Stifel Financial Corp boosted its stake in shares of Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock valued at $1,391,000 after buying an additional 391,092 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in Archer Aviation in the third quarter valued at $578,000. Centiva Capital LP purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $79,000. Benjamin Edwards Inc. grew its stake in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock worth $322,000 after purchasing an additional 105,425 shares during the period. Finally, Encompass More Asset Management purchased a new position in shares of Archer Aviation in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares in the company, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,069,958 shares of company stock worth $5,461,608 in the last ninety days. Insiders own 9.75% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on ACHR shares. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price objective for the company. HC Wainwright started coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a "buy" rating and a $12.50 target price on the stock. Finally, Benchmark restated a "buy" rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $9.33.

Archer Aviation Trading Up 9.8 %

Shares of Archer Aviation stock traded up $0.75 during mid-day trading on Friday, hitting $8.41. 33,314,473 shares of the stock were exchanged, compared to its average volume of 11,037,454. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -6.36 and a beta of 3.19. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $9.84. 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 simple moving average of $4.31 and a 200 day simple moving average of $3.91.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the firm posted ($0.19) earnings per share. Research analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.

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.