Swiss National Bank boosted its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 31.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,700 shares of the company's stock after buying an additional 121,800 shares during the period. Swiss National Bank owned approximately 0.12% of Archer Aviation worth $4,989,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARK Investment Management LLC boosted its stake in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after buying an additional 6,371,647 shares in the last quarter. HBK Investments L P purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $6,818,000. Sora Investors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth $3,429,000. Raymond James Financial Inc. acquired a new position in shares of Archer Aviation during the 4th quarter worth $7,249,000. Finally, Yarbrough Capital LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $6,039,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Archer Aviation news, CFO Mark Mesler sold 62,258 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 $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares of the company's stock, valued at approximately $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is owned by company insiders.
Archer Aviation Trading Down 7.6 %
Shares of NYSE:ACHR traded down $0.60 during trading on Friday, reaching $7.26. The stock had a trading volume of 23,798,717 shares, compared to its average volume of 19,416,247. 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 stock has a market cap of $3.94 billion, a P/E ratio of -5.50 and a beta of 3.14. The business has a fifty day moving average price of $8.75 and a 200-day moving average price of $6.84. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results 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. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have weighed in on ACHR shares. Raymond James upped their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. 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 report on Friday, February 28th. Finally, Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average target price of $11.61.
Check Out Our Latest Stock Report on ACHR
About Archer Aviation
(
Free Report)
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.
See Also
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
