14,600 Shares in Archer Aviation Inc. (NYSE:ACHR) Bought by Xponance Inc.

Xponance Inc. purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,600 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds have also bought and sold shares of the business. DRW Securities LLC bought a new stake in shares of Archer Aviation in the second quarter valued at $68,000. Ensign Peak Advisors Inc grew its position in shares of Archer Aviation by 47.5% in the second quarter. Ensign Peak Advisors Inc now owns 158,792 shares of the company’s stock valued at $559,000 after purchasing an additional 51,100 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Archer Aviation by 5,615.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 121,857 shares of the company’s stock valued at $429,000 after purchasing an additional 119,725 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insider Transactions at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 27.17% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $2.95 on Friday. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $7.01. The business has a 50-day simple moving average of $3.54 and a 200 day simple moving average of $3.83. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The stock has a market cap of $952.88 million, a price-to-earnings ratio of -1.81 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. On average, research analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACHR. JPMorgan Chase & Co. lifted their price target on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Benchmark restated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.