Trexquant Investment LP Buys Shares of 626,298 Archer Aviation Inc. (NYSE:ACHR)

Trexquant Investment LP purchased a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 626,298 shares of the company's stock, valued at approximately $6,106,000. Trexquant Investment LP owned about 0.15% of Archer Aviation at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ACHR. Harbour Investments Inc. raised its holdings in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after acquiring an additional 2,975 shares during the period. Tidal Investments LLC grew its holdings in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after purchasing an additional 3,339 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Archer Aviation by 2,725.3% in the 4th quarter. US Bancorp DE now owns 4,464 shares of the company's stock worth $44,000 after purchasing an additional 4,306 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after purchasing an additional 3,033 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages recently weighed in on ACHR. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Needham & Company LLC increased their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Price Performance

Shares of ACHR traded down $0.75 during mid-day trading on Friday, hitting $6.20. The company's stock had a trading volume of 32,977,683 shares, compared to its average volume of 19,874,129. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -4.69 and a beta of 3.16. The firm has a 50-day moving average price of $8.48 and a 200 day moving average price of $6.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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, beating the consensus estimate of ($0.40) by $0.10. On average, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 474,780 shares of company stock worth $3,758,081 in the last quarter. 9.75% of the stock is owned by company insiders.

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.