Archer Aviation Inc. (NYSE:ACHR) Stock Holdings Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 343,010 shares of the company's stock after selling 57,092 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Archer Aviation worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ACHR. Bank of New York Mellon Corp raised its stake in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock valued at $4,651,000 after purchasing an additional 254,460 shares during the last quarter. Raymond James & Associates boosted its position in Archer Aviation by 44.4% during the second quarter. Raymond James & Associates now owns 625,164 shares of the company's stock worth $2,201,000 after acquiring an additional 192,120 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Archer Aviation by 5,615.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 121,857 shares of the company's stock worth $429,000 after acquiring an additional 119,725 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after acquiring an additional 94,430 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Archer Aviation by 29.3% during the 2nd quarter. Rhumbline Advisers now owns 311,852 shares of the company's stock worth $1,098,000 after purchasing an additional 70,575 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACHR has been the topic of several recent analyst reports. Needham & Company LLC assumed coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday. Finally, Canaccord Genuity Group upped their price objective on Archer Aviation from $8.50 to $11.00 and gave the stock a "buy" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Archer Aviation presently has a consensus rating of "Moderate Buy" and an average target price of $10.63.

Insider Activity

In other news, CEO Adam D. Goldstein acquired 19,762 shares of the business's stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the purchase, the chief executive officer now directly owns 2,014,890 shares of the company's stock, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah Diaz purchased 5,150 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,621,386 shares worth $9,686,577. Insiders own 9.75% of the company's stock.

Archer Aviation Stock Down 5.9 %

Archer Aviation stock traded down $0.53 during midday trading on Thursday, hitting $8.42. 52,057,348 shares of the company were exchanged, compared to its average volume of 12,574,204. The company has a market cap of $3.58 billion, a PE ratio of -6.38 and a beta of 3.19. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58. The company's fifty day moving average price is $5.24 and its 200-day moving average price is $4.22. 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 announced 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 quarter last year, the firm posted ($0.19) EPS. On average, research analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current fiscal 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.