Yarbrough Capital LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 619,418 shares of the company's stock, valued at approximately $6,039,000. Yarbrough Capital LLC owned approximately 0.15% of Archer Aviation as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the 3rd quarter valued at about $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 59.34% of the company's stock.
Archer Aviation Trading Down 1.9 %
Shares of ACHR traded down $0.18 during mid-day trading on Friday, reaching $8.92. The company had a trading volume of 18,112,896 shares, compared to its average volume of 33,686,848. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -6.76 and a beta of 3.15. 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 firm has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $5.17. 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 posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft boosted their price target 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. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and an average price target of $11.38.
Check Out Our Latest Stock Analysis on ACHR
Insider Transactions at Archer Aviation
In other news, CEO Adam D. Goldstein purchased 19,762 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the purchase, the chief executive officer now directly owns 2,014,890 shares of the company's stock, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tosha Perkins sold 150,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now owns 197,355 shares of the company's stock, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company's stock.
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.
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