Trexquant Investment LP Invests $6.11 Million in Archer Aviation Inc. (NYSE:ACHR)

Trexquant Investment LP bought a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 626,298 shares of the company's stock, valued at approximately $6,106,000. Trexquant Investment LP owned approximately 0.15% of Archer Aviation at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. ARK Investment Management LLC grew its holdings 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 purchasing an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Archer Aviation during the 4th quarter worth about $15,912,000. Sora Investors LLC purchased a new position in shares of Archer Aviation in the 3rd quarter valued at about $3,429,000. Finally, Headlands Technologies LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth about $11,025,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ACHR shares. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Cantor Fitzgerald raised 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. Needham & Company LLC raised their target price 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, Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Two research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

Insider Buying and Selling at Archer Aviation

In other news, General Counsel Eric Lentell sold 43,230 shares of the firm'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 $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares of the company's stock, valued at $409,832.50. This trade represents a 44.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,780 shares of company stock valued at $3,158,081. Corporate insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 2.3 %

Shares of ACHR traded up $0.15 during midday trading on Tuesday, hitting $6.81. The company had a trading volume of 13,524,991 shares, compared to its average volume of 19,907,942. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. 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 $3.70 billion, a price-to-earnings ratio of -5.18 and a beta of 3.16. The company's 50 day moving average price is $8.43 and its 200 day moving average price is $7.05.

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

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.